Yesterday’s Washington Post features a front-page analysis which points out that the “actions of government and officials have often created new problems“.
“It’s like a chess game,” former president of the Federal Reserve Bank of St. Louis William Poole told the Post. “You might be able to anticipate the next couple of moves. But after that, it gets very complicated, very quickly.”
But the best chess players in the world think a dozen moves ahead. Weak players think about the last move.
Government is a weak player. It tries to play the game without considering its principles. It reacts to the immediate situation simply by moving the first piece it sees with no regard to the overall set-up of the board, root causes, logical next moves, or later consequences. It expects people to change their behavior, like pawns, only in the direction of its goals, not theirs. And when its bad strategies display their own predictable counter-productivity, its solution too often is more of those same strategies.
Over and over again, government has shown itself to be too clumsy, too near-sighted, and too simplistic in its world view to manage the economy, or much else, effectively.
It is time to topple the king.