If you wanted to radically alter the economy, making a country such as Britain as dynamic as China or Brazil, what would the state have to do? Intervene, obviously, but how?
Well, you’d have to stop everyone from using modern technology and modern methods wouldn’t you? Because we are at the technological boundary where economic development is quite difficult. Brazil and China are doing catch up growth, where we expect there to be that greater vibrancy because catch up growth is easier. Thus regress out technological level to theirs and we’ll have more vibrancy.
Damn, the idea that anyone needs to explain this to an economics editor is simply ridiculous, isn’t it?