The Paradox of Progress: When Innovation Meets Inadvertent Overreach, and Why I Am Defending Jerome Powell

There’s an age-old axiom that has value for both human innovation and bureaucratic decision-making: "If it ain't broke, don't fix it." Made famous in the late 1970s by T. Bert Lance, who led the Office of Management and Budget under President Carter, this simple admonishment encapsulates the paradox of progress. On one hand, our relentless drive to improve the world propels us to push boundaries, innovate, and refine the tools and systems around us. On the other, the very act of tampering with reliable, well-functioning systems can sometimes lead to complications or even failure. Tracing these dynamics through both history and modern governance not only deepens our understanding of progress, but also highlights the delicate balance between necessary innovation and destructive overreach.