And I know why it will fail.
I can’t stand the guy. I mean, I mute the sound everytime I hear his voice.
He’s too clever by half. He doesn’t understand anything about the economy, but what he’s doing to it is not just a random series of moves.
He’s trying to leverage a new economic paradigm off of the intrinsic value of the world productivity explosion.
But that’s not the way it works, kid. When your house of cards falls, you’ll be nationalizing everything up to the last dairy queen. There won’t be any market signals left. As that happens, you’ll have an economy left without its most vital information. The information in the system, the vast spontaneous complex of market signals, is essential to creating wealth. The productivity explosion is an effect of that, not a cause. You’ll see.
In other words, you can’t get there from here, and you will wind up killing a billion people around the world with starvation, war, chaos, and grinding poverty. What you’re attempting will be a catastrophe that picks up where Mao’s “Great Leap Forward” left off. (No wonder the Chinese, who been there and done that, are having nightmares.)
Yes, of course, you have a constituency out there for massive population reduction, too. So you’ll have a few people who will still be happy with your achievements.
P.S.: This is the real John Galt effect. When even the most compulsive wealth creators are immobilized by their inability to get clear signals, all contracts are endangered, both in the making and the performing. When you kill off Galt’s common sense of the market and replace it with a design, every node in the matrix is blinded. You have successfully turned civilization back thirty centuries.
The economy cannot be set like a watch. Or written like a computer program. Or operated like a machine. Or managed like a company. The “mind” of the economy is much faster and more complex than anything suggested by those analogies, but each of those analogies suggest methods that can destroy an economy. It happened throughout the last century, routinely.