Trusting Each Other to Keep the Economic Ship Right

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Yesterday, the Newport Daily News ran an op-ed of mine

Lots of smart people think [about the social upheaval on the horizon when technology makes work obsolete], so I hesitate to admit that my opinion is that this really shouldn’t be such a difficult or scary topic. I’d humbly suggest that, in the excitement of prognostication, those smart people are missing a central economic principle — namely, that the free market itself is the greatest form of wealth redistribution. …

Locally, Rhode Islanders should contemplate the possibility that our location and size could make us a leading innovator in this healthy form of wealth distribution — once more a global powerhouse. All it would take is enough trust in each other to break the hold of insiders who sell the promise of economically protecting us from one another.

Always remember that it is in the interests of a lot of powerful forces to frighten us into over-correcting the ship in the direction they want us to go.

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