Economic Myths: there's nothing wrong with complexity
The expression “small is beautiful” is well known from a book of that tile written by economist E.F.Schumacher. A friend has just sent me a link to this blog post which shows how the converse is also true, that Large, in the sense of complex, is also Ugly, for the simple reason that we all intuitively know, that the more complex something is the more difficult it is to put right when it goes wrong.
Sadly, it is unlikely that the manifest failures of the system of contracts model over the last decades are going to be destructive of this particular myth any time soon, although the news of the insourcing of the B-21 at the end of the post offers a glimmer of hope.
Source: http://markwadsworth.blogspot.com/2022/10/economic-myths-theres-nothing-wrong.html
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