A New Way to Think About Government’s Role in Wealth Creation, With David Sainsbury
For too long, economic policy in the U.S. and Commonwealth nations has been guided by the “market efficiency” school. The result has been a widespread unwillingness to view government roles as critical to boosting innovation, growth, and competitiveness. It’s time for a new approach, which Lord David Sainsbury, author of Windows of Opportunity: How Nations Make Wealth, calls the “production capability” school. Under this school, the key question for economic policy is how well it enables ente...