Sometimes Amateurs Beat Experts

For John, BLUF:  Question conventional wisdom.  Nothing to see here; just move along.

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Over at The Wall Street Journal is an essay by Mr Gregory Zuckerman.  It is NOT behind the paywall.

The Outsiders Who Saw Our Economic Future

In both America's energy transformation and the financial crisis, it took a group of amateurs to see what was coming

An interesting discourse on why markets and the freedom to take another path are good for the economy.  The problem with markets is that some win and some lose.  The moral question is, do the costs outweigh the gains?  I would argue that even the losers in a free market system benefit, if only indirectly

On the other hand, a mercantile system benefits the rich few and consigns the rest of the population to loser status.  There is neither freedom nor equality, and thus there is not fraternity.

As Damon Runyon told us, "The race is not always to the swift, nor the battle to the strong, but that's the way to bet."  Same with experts.

NOTE for Gerry::  .