Assume The Worst About People And You

A Well-designed Welfare State Can Actually Encourage People To Take Chances With Their Jobs And Be More, Not Less, Open To Changes.

Equality Of Opportunity Is Not Enough. Unless We Create An Environment Where Everyone Is Guaranteed Some Minimum Capabilities Through Some Guarantee Of Minimum Income, Education, And Healthcare, We Cannot Say That We Have Fair Competition. When Some People Have To Run A 100 Metre Race With Sandbags On Their Legs, The Fact That No One Is Allowed To Have A Head Start Does Not Make The Race Fair. Equality Of Opportunity Is Absolutely Necessary But Not Sufficient In Building A Genuinely Fair And Efficient Society.

Low Inflation And Government Prudence May Be Harmful For Economic Development.

Rational Thinking Is An Important Aspect Of Human Nature, But We Have Imagination, We Have Ambition, We Have Irrational Fear, We Are Swayed By Other People, We Get Indoctrinated And We Get Influenced By Advertising.

If We Are Really Serious About Preventing Another Crisis Like The 2008 Meltdown We Should Simply Ban Complex Financial Instruments, Unless They Can Be Unambiguously Shown To Benefit Society In The Long Run. This Is What We Do All The Time With Other Products-drugs, Cars, Electrical Products And Many Others.