Today's minor political instability is the result of bad policies blowing up in our faces, not differences in people's potential.
When a society regularly creates incentives that lead to bubbles that eventually collapse and leaves wrecked lives in its wake, people are bound to get upset.
But in a society that does not punish savers and reward foolishness, prudent people with even modest means and a bit of luck can build a nice nest egg for retirement and a rainy day.
Our politicians believe consumption is the key to prosperity and the more you subsidize consumption, the more likely it is that you will be re-elected.
But it is actually production and productivity that lead to wealth and stability, not consumption. And certainly not bubbles where hundreds of billions of dollars are wasted building things for which there is ultimately no market.
A device that truly makes people more productive (without longterm side effects, of course) would actually benefit us, not hurt us. And banning such a device would simply give the advantage to other countries to exploit.
When a society regularly creates incentives that lead to bubbles that eventually collapse and leaves wrecked lives in its wake, people are bound to get upset.
But in a society that does not punish savers and reward foolishness, prudent people with even modest means and a bit of luck can build a nice nest egg for retirement and a rainy day.
Our politicians believe consumption is the key to prosperity and the more you subsidize consumption, the more likely it is that you will be re-elected.
But it is actually production and productivity that lead to wealth and stability, not consumption. And certainly not bubbles where hundreds of billions of dollars are wasted building things for which there is ultimately no market.
A device that truly makes people more productive (without longterm side effects, of course) would actually benefit us, not hurt us. And banning such a device would simply give the advantage to other countries to exploit.