We are ruled by the interaction of ideas, interests, and institutions. Ideas are mental models providing a coherent set of beliefs about cause-and-effect relationships. Ideas often lead to ideologies—guiding sets of beliefs. For example, if I have an idea that the government can spend when the economy turns down, and save when the economy turns up, I’m probably a Keynesian in my beliefs. If I have an ideal that the only way the economy can evolve is via the liquidation of unproductive sectors of the economy, I’m probably a Libertarian in my beliefs. Interests are the goals or policy objectives…

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