Ep 92: Rules, Not Discretion

Too often, we think a Strong Man will solve all our problems, and that decisive leadership is all a nation needs. This could not be more wrong. We need strong rules, not strong rulers — and we need those strong rules to restrain the state. The secret to prosperity lies in rules, not discretion.

Welcome to Episode 92 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.

In this episode, Ajay explains the history of a concept that is one of the most important in political philosophy: Rules, Not Discretion. Also discussed: the contribution of economics to this concept, what poker also teaches us, and why rowing machines are good for you.

TABLE OF CONTENTS: 00:00 Packaging00:13 Intro: A Rebel With Rules01:03 Chapter 1: Beware of the Strong Man09:16 Chapter 2: Ireland’s Story20:33 Chapter 3: Monetary Policy26:01 Chapter 4: A Paper That Made Ajay Drunk With Happiness28:52 Chapter 5: Focus on Rules43:31 Chapter 6: Rules are the Key to Growth48:48 Chapter 7: Amit’s Thoughts1:05:08 Chapter 8: Other Applications of this Framework1:17:25 Chapter 9: Recommendations

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