Benevolent meddling won’t help us make good decisions. We have all cringed watching friends and family make terrible decisions, and been tempted by visions of the pain spared if we could only make them follow our advice. The same feeling motivates well-intentioned technocrats to take charge of the public: People are plainly making sad blunders ...

It’s September 2023, and markets have become battlefields, as economics and geopolitics become ever more closely intertwined. Many think that we are returning to the Cold War, but we’re not. Back then, the military had the materiel and commanded the view of war. Now, after thirty years of globalization, it’s very often business that commands ...