The Moving Boundary

The line between market and government territory shifts constantly with crises, technology, and changing social values. The 2008 crash expanded government's role in financial regulation; COVID expanded it further.

New technology reopens old arguments. Should social media platforms be regulated like utilities? Should governments steer artificial intelligence? Should space resources be subject to property rights?

The boundary keeps moving because economic conditions keep changing. Yesterday's consensus becomes today's outdated thinking, so the most valuable economic skill is knowing when conditions demand a different approach.