Below is Mark Pennington’s first guest post. As you can see, it will be an interesting week! – GC
Mark Pennington
I am delighted to have been invited to contribute as the guest blogger on Pileus this week and to air some of the central ideas in my new book, Robust Political Economy: Classical Liberalism and the Future of Public Policy. At the core of this book is a very basic but oft neglected idea – ‘failure’ is endemic to all social institutions because human beings are imperfect. By far the most important imperfection is that people are cognitively limited and thus they make mistakes. Robust institutions, therefore, are not those that eliminate failure, but those that reduce the consequences of inevitable human errors. Before we determine that a particular set of institutions ‘fail’ meanwhile, we must explain how and why an alternative set of institutions can do better.
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Utopia, you are standing in it! 
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