Lessons from Mancur Olson
The logical conclusion from reading this book is to prefer a new state to an old state, a newly stable state to a long-stable state, and a new industry to an old one.
Read the whole thing, which is a summary of Mancur Olson’s views of how democratic states are captured by special interest groups, leading to stagnation. I have an optimistic perspective, which is that the Internet is not a democracy. For now, that part of the economy remains dynamic.
Thanks to Nick Schulz for sending me the pointer.