Career Leverage and the Structure of Production

I’m a big fan of the Austrian School of Economics, which focuses a lot on the structure of production, which is a fancy way of saying the long process of how stuff gets made. It’s the process of going from products (Here’s an apple), to tools (Here’s a ladder to reach more apples), to tools for making tools (Here’s a saw to cut wood for ladders), and on and on.  The deepening of the structure of production requires insight and foresight, since it adds ’roundaboutness’ to a straightforward task like apple picking. But it also adds massive leverage.

We Need a Substitute for the Word ‘Support’

When people say they support something, it usually means they want governments to make laws that will advance that thing. Legislation is not like business, or family, or society. Those institutions require persuasion and value creation to get the thing you support to win. Legislation is a different beast. The single feature that distinguishes governments from every other institution is that they initiate violence to back everything they do.