Conjecture

Capital multiplies a knowledge base that is already there; it does not create one. Hidalgo reads the Marshall Plan this way: aid worked in post-war Europe because knowledge and working institutions were already in place, and the same idea, development engineered through loans, failed elsewhere for decades. So the first diligence question for a place, a team or a commons is what knowledge it already holds, and an allocator that cannot see that is allocating blind.

Capital mechanisms