When you read what’s in the World Economic Forum Competitiveness Yearbooks, you think this is just sort simplistic, arbitrary and vague. Nevertheless, these are also comfort blankets for high-level executives, it gives them what they need, hence commanding such fees. So if I am a bit scornful it is only because people like Michael Porter are manifestly and deliberately in the business of over-simplification. He did it for Ronald Regan in the mid-80s, he’s been doing it for corporations since the 70s, and he’s been doing it ever since. He produces methodological tools through which the world gets governed... Whereas Hayek sought to remind us that the world cannot be easily reduced to a set of simple facts, Porter has built his career on seeking to demonstrate precisely the opposite.