Even experts can be blind to important features of their subjects. I have done a lot of work on country competitiveness, but if anybody had asked me in 2000 to name the top 100 conditions that underpin a thriving economy, I wouldn’t have mentioned “a well-functioning land registry system.” Then I read [Hernando] de Soto’s compelling case that the ability to get clear title to a piece of land is the essential precondition for successful capitalism. That not only changed my view of economics, but it also taught me to never be too confident that I’m seeing the whole picture. You can’t see what you aren’t looking for — so get help from others who see things that you don’t!
Author: Roger L. Martin
Subjects: Economics, Expertise, Knowledge