> Autocracies seem to be the most efficient form of governance Efficient in achieving a particular goal, sure, but the wisdom of crowds (and the market) is a t

> Autocracies seem to be the most efficient form of governance Efficient in achieving a particular goal, sure, but the wisdom of crowds (and the market) is a thing, too. When the autocracy decides X will be the next big thing, and it isn't, all that efficiency from the previous correct bets gets wiped away by the inefficiency of one wrong dictate from the top.