Its fun to go back and see how really smart people understood things at the time. Maybe it should give us some humility — so much policy debate seems based on the idea that we know everything so well. … If you were transported back to to 1790 and got sick, would you want to be treated by the best doctors of the day?
We should keep this in mind whenever sweeping changes advocated by our “best minds” are proposed. I’m thinking about the “green economy” in particular and a lot of other things in general. The advantage of small incremental change is that you don’t usually look like such an idiot later.