New book by Bill Bonner.
His writing is sarcastic, funny, and on target. Book is about the law of diminishing returns in everything, and in particular public policy and central planning. Human mind is size to be autonomous or in small groups for survival and small tasks. Throughout history in every aspect, the larger something becomes, whetherr it be organizations or policy or project or company, it is harder to keep stable and maintain expectations, and its fate is demise. Overconfidence in the growth phase leads to unrational actions and bigger busts. The demise is fought by governments and laws to subsidize the failures, only prolonging and creating a bigger eventual demise.
He is a big picture economist, but also a great entertaining writer and sociologist. His political philosophy leans libertarian.
Good read if you like.
His writing is sarcastic, funny, and on target. Book is about the law of diminishing returns in everything, and in particular public policy and central planning. Human mind is size to be autonomous or in small groups for survival and small tasks. Throughout history in every aspect, the larger something becomes, whetherr it be organizations or policy or project or company, it is harder to keep stable and maintain expectations, and its fate is demise. Overconfidence in the growth phase leads to unrational actions and bigger busts. The demise is fought by governments and laws to subsidize the failures, only prolonging and creating a bigger eventual demise.
He is a big picture economist, but also a great entertaining writer and sociologist. His political philosophy leans libertarian.
Good read if you like.
