• Accountable to Darwin vs. Accountable to Newton

  • Mar 18 2024
  • Length: 15 mins
  • Podcast
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Accountable to Darwin vs. Accountable to Newton

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  • Summary

  • Woodrow Wilson was the only president with a Ph.D. in political science.

    He came to office having thought more about how a government functions than most before him or since.

    One of his complaints was that too many people in government held the belief that it was a Big Machine: that once you set up a series of rules you could take your hands off the wheel and let the government run on its own forever. They viewed government like physics, with a set of customs and laws that required no updating or second-guessing because they were believed to be precise and perfect as they were.

    Wilson thought that was wrong. He viewed government as being a living thing that adapted and evolved.

    I really don't care about politics. But he had a theory that I think is so important, and so applicable, to us ordinary people managing our money.

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Economics
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