In the coming years, governments will be competing against one another increasingly fiercely somewhere along a spectrum between two illusions. One is that a practical market can only be arrived at by ‘free’ individual and commercial competition; the other is that a practical distribution can only be arrived by ‘democratic’ choice. Either way can, and often does, lead to disaster.
Both viewpoints ignore the basic law of human activity — as basic to us as gravity is to physics or the hydrogen-bond is to genetics — and this is that we can only act as hierarchical collectives (albeit of vastly different sizes and structures). The only way that a practical market can be arrived at is to have no faith at all in any cognitive assumptions of investment and productivity beforehand but to ‘suck it and see’ — that is, scientific research.
The country, or region, or city, that randomly stumbles on the optimum blend of investments will find that its economic system arrives at the fundamental mode of ‘least effort’ — towards which all practical systems tend — sooner than the others. And God help those governments which make no attempt to develop scientific research.