i trust you with all my money

We would like to confide in politicians to spend (our tax) money wisely and effectively. However, without proper economic and financial knowledge on their part, the desire is somewhat naive.

Suppose they can make up for lack of economic knowledge in domain knowledge, specifically the domain(s) the politician is deemed responsible for. Would the knowledge gaps balance themselves out? If all politicians understand their domain through and through, represent it adequately, the “market” could regulate itself.

What happens if one shouts louder than the other, though? The balance becomes skewed.

An all-encompassing economic layer should be spanned on top of all the other layers as a control mechanism. Yet, what’s true of economics is likely also true of health or education, just to name a couple of domains.

Constructive dialogue is the key here. Assuming it’s incredibly challenging to be an expert in all different domains simultaneously, we should defer to enforcing constructive dialogue within a democratic setting.

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