Projects, Risks

My comments on post: Stiglitz has an interesting take on such issues: What we are actually deciding is how to decide projects that get funded (encouraged), and which are not, also by whom. Projects can be anything that is relevant to the survival of the human race.

Now: if the failure of a project means extinction of human race, those decisions are better-off centralized. If however, we need to “try” bunch of projects, don’t care of failures, but success will push everyone forward in some way, there we need decentralized projects, that is, people start them on their own, take the risks, and the benefits as well. The latter would be capitalism (or any other free enterprise based system), fhe former central, government. The paper is here http://bit.ly/3uUhkf