It’s time to ditch the idea of meritocracy.…This is good and it is also an argument for consensus-based rather than hierarchical control systems, especially as conditions become complicated and even complex, resulting in emergence.
This is actually the argument for market-based economies rather than command economies. But in a modern monetary production economy that is open and in which government plays essential roles, laissez-faire is not an option socially and politically and it would not be feasible economically anyway. So tap the wisdom of crowds politically by broadening and deepening participation.
Stumbling and Mumbling
Chris Dillow | Investors Chronicle