I must take this opportunity to thank those of you who directed traffic this way: Tyler Cowen, Steve Verdon, and Megan McArdle aka Jane Galt all posted links to the Knowledge Problem, as well as offering their own cogent and insightful commentaries.
Tyler also mentioned the Watts paper on cascading failures, and has endeared himself to me even further by calling me the “goddess of electricity analysis”. I shall continue to strive to earn such a moniker.
UPDATE: I forgot to thank Greg Ransom at PrestoPundit. And Glenn Reynolds was posting a link here at the very time I was writing my initial thanks.
Thanks!