Given your awareness of the systemic problems with codified systems, I would think you would be more interested in reducing/eliminating barriers of entry for entrepreneurial initiatives, including funding that allows private initiatives to compete on an equal footing with government ones. In the US there have been many states passing Educational Scholarship Accounts (ESAs) that allow the funding to follow the child in K12 education, with very few restrictions on how the funds are spent - in essence we are moving towards parental satisfaction as the only form of accountability. As a consequence, thousands of new entrepreneurial initiatives in education are coming into being with remarkable freedom from traditional structures and accountability systems. In a more market oriented system, as particular codified systems ossify and suffer from Goodhart's Law, new ones can constantly arise that are more aligned, in this case, with the actual lifelong well-being of the child.
Hi Michael. Apologies for the delayed reply. New structures are definitely the only way to escape this problem but in many domains, new systems are prevented from arising due to the need to comply with an existing complex body of regulations, processes etc. The planning regime for building new projects of any kind in the US/UK is a good example, financial services is another one etc. What is possible in the US in education is often not allowed in many European countries.
Fair enough, which is why I predict the continued demise of Europe. Capital and talent will flow to jurisdictions where innovation remains possible. In the U.S., capital and talent are leaving CA and NY into TX and FL because of the fewer regulatory restrictions and lower taxes. I'm working on Startup Cities/Charter Cities in developing nations because they have an incredible opportunity to attract capital and talent that will continue to bleed out of the stasis of regimes choked by the regulatory state.
Given your awareness of the systemic problems with codified systems, I would think you would be more interested in reducing/eliminating barriers of entry for entrepreneurial initiatives, including funding that allows private initiatives to compete on an equal footing with government ones. In the US there have been many states passing Educational Scholarship Accounts (ESAs) that allow the funding to follow the child in K12 education, with very few restrictions on how the funds are spent - in essence we are moving towards parental satisfaction as the only form of accountability. As a consequence, thousands of new entrepreneurial initiatives in education are coming into being with remarkable freedom from traditional structures and accountability systems. In a more market oriented system, as particular codified systems ossify and suffer from Goodhart's Law, new ones can constantly arise that are more aligned, in this case, with the actual lifelong well-being of the child.
Hi Michael. Apologies for the delayed reply. New structures are definitely the only way to escape this problem but in many domains, new systems are prevented from arising due to the need to comply with an existing complex body of regulations, processes etc. The planning regime for building new projects of any kind in the US/UK is a good example, financial services is another one etc. What is possible in the US in education is often not allowed in many European countries.
Fair enough, which is why I predict the continued demise of Europe. Capital and talent will flow to jurisdictions where innovation remains possible. In the U.S., capital and talent are leaving CA and NY into TX and FL because of the fewer regulatory restrictions and lower taxes. I'm working on Startup Cities/Charter Cities in developing nations because they have an incredible opportunity to attract capital and talent that will continue to bleed out of the stasis of regimes choked by the regulatory state.