Last week, I argued that modern governance suffers from a curious blind spot. We measure almost everything that governments produce, yet devote remarkably little attention to measuring the institutional capability that produces those outcomes. GDP, Inflation and others are indispensable indicators, but they share an important limitation: they measure consequences rather than capability. That distinction is not semantic; but fundamental. A nation can temporarily enjoy strong economic growth while the institutions responsible for sustaining th
Last week, I argued that modern governance suffers from a curious blind spot. We measure almost everything that governments produce, yet devote remarkably little attention to measuring the institutional capability that produces those outcomes. GDP, Inflation and others are indispensable indicators, but they share an important limitation: they measure consequences rather than capability. That distinction is not semantic; but fundamental. A nation can temporarily enjoy strong economic growth while the institutions responsible for sustaining
This post was originally published on this site.
