Misplaced Genius

Andy Grove is a genius engineer and a true captain of industry (retired). But his article suggesting how to fix the American economy illustrates an important point: just because someone excels in one field, there’s no reason to believe they are particularly good in another. His suggestions ignore many fundamental insights of economics and, if implemented, would undoubtedly lead to lower living standards for Americans. His ideas aren’t new – in fact, they are ancient. We now know, both from bitter experience and economic theory, that protectionism in an attempt to “save jobs” takes us no place good. Andy should stick to his knitting.


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