I like the Americanism which says, “Good, fast, cheap: Pick at most two.” There is some overlap between any pair of the three but there’s no overlap between all three. Good and fast won’t be cheap; fast and cheap won’t be good; and good and cheap won’t be fast.
With regards to economic prosperity, I have something similiar to that “good, fast, cheap” rule. I call it “Orwell’s Rule for Economic Prosperity” which says “Rules, Leaders, People: Pick at least two.” If a country has good rules, good leadership and good people then its prosperity is guaranteed. That much is clear. But at the very least, you must have two of the three to have any hope of being prosperous. Continue reading