
William J. Baumol
Albert Hirschman
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Economics, global development,current affairs, globalization, culture and more rants on the dismal science, and the society. "As usual, it's like being a kid in a candy store. I'm awed by the volume of high-quality daily links in general. Thanks!" - Chris Blattman

We have to gird ourselves against the unholy trinity of reactionary rhetoric identified by the great development economist Albert Hirschman. He noted that every new idea for constructive change is met with three attacks. The first is futility: the course of reform cannot work because the problem is unsolvable. The second is perversity: any attempt at solution will actually make matters worse. The third is jeopardy: attempt to solve the problem will take attention and resources from something even more important. This negativism is a state of mind, not a view based on facts. Vigorous debate over the methods of change is, of course, healthy and vital, but relentless acceptance of the status quo is not acceptable in the face of challenges we confront.