
How economic policies are gamed
Simplifying Complexity
Goodhart's Law: All Systems Will be Gamed
Any system with performance criteria, whether it's related to university activities, rating government departments, horse racing, crime rates, medical outcomes, or government budgets, will inevitably be manipulated to achieve favorable results. This phenomenon is encapsulated in Goodhart's Law, which states that once a measure becomes a target, it ceases to be a good measure. The speaker derived the title 'All Systems Will be Gamed' from this principle.
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