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Sometimes ‘Nothing’ Is Better Than ‘Something’ – Part III November 17, 2012

Posted by federalist in Government.
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Nassim Taleb makes a structural argument for decentralized, bottom-up government.

[I]n complex systems, we should limit government (and other) interventions to important matters: The state should be there for emergency-room surgery, not nanny-style maintenance and overmedication of the patient — and it should get better at the former.

His essay (and the associated book, Antifragile: Things That Gain From Disorder) is essentially a rehearsal of the virtues of free markets in terms of minimizing catastrophes by ensuring that risks — including policy risk — are born as much as possible by those who understand them and who can react constructively and quickly to failures.

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