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Many Good Sets of Institutions

There is wisdom in ancient institutions. People were not stupid, and while they may look very foreign, we should probably assume they worked as whole.

Additionally, we cannot assume our current set of institutions is optimal (there are many clear problems, after all).

It would also be surprising to me if there were any one set of institutions that was clearly best. I would think it more likely that there are lots of different peaks in institution space. Maybe one is a liberal-democratic type thing, maybe another is an anarchist one with distributed private law, etc. etc. The problem is that you might need to go down the hill to get to the next peak, so incremental changes might cause things to get worse before they get better.

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Last modified 2019-05-16 Thu 10:20. Contact max@maxjmartin.com