I am a big fan of that old Bloomberg column by Grove referenced in this article. I don't think his proposed policy mechanism is either the focus or necessarily

I am a big fan of that old Bloomberg column by Grove referenced in this article. I don't think his proposed policy mechanism is either the focus or necessarily a good idea, but in context, it's for illustrative purposes: not the main course. As I read it, I think a better summary is that Grove felt that the importance of tacit knowledge was not given enough weight in the assumptions seen in the Washington Consensus (in the IMF sense of the term), the general underpinnings which the United States followed to some degree. Some more modern development economics, seeking to explain the failings of the Washington Consensus, more apparent by 2010 than in 1991 or 2000, develops thinking along these lines. For example: https://www.imf.org/en/Publications/WP/Issues/2019/03/26/The-Return-of-the-Policy-That-Shall-Not-Be-Named-Principles-of-Industrial-Policy-46710 https://www.imf.org/en/Publications/WP/Issues/2019/03/26/The... Grove also points out that there's a collective action problem that prevents private entities from making progress on the issue, and government is the agent in the right place to experiment with adjustments.