"Fatal conceit" is precious. How much wisdom can be crammed into a two-word phrase!
It is amazing (but not surprising) that those who are largely ignorant presume to manipulate a system they cannot really understand. Knowledge is dispersed and complexity is the rule. Again, Hayek said it best: "The curious task of economics is to demonstrate to men now little they really know about what they imagine they can design."
This morning's WSJ includes a brief discussion of how ignorance kills. People in Los Angeles (and other big cities) moan and groan about traffic congestion. They do not rue un-priced access because pricing is exotic and/or nefarious. But "solve" they must. Today's WSJ includes "Vision Zero, a 'Road Diet' Fad, is Proving Deadly ... Emergency vehicles get stuck on streets that have been narrowed to promote walking and bicycling." How could it be otherwise?
What else do we know? The people who bring us crackpot ideas and policies keep getting re-elected. In the extreme, when elites tell Little Sisters of the Poor that they must get behind contraception, there is revolt and revulsion. We get Trump and Trumpism. Problem solved?
It is amazing (but not surprising) that those who are largely ignorant presume to manipulate a system they cannot really understand. Knowledge is dispersed and complexity is the rule. Again, Hayek said it best: "The curious task of economics is to demonstrate to men now little they really know about what they imagine they can design."
This morning's WSJ includes a brief discussion of how ignorance kills. People in Los Angeles (and other big cities) moan and groan about traffic congestion. They do not rue un-priced access because pricing is exotic and/or nefarious. But "solve" they must. Today's WSJ includes "Vision Zero, a 'Road Diet' Fad, is Proving Deadly ... Emergency vehicles get stuck on streets that have been narrowed to promote walking and bicycling." How could it be otherwise?
What else do we know? The people who bring us crackpot ideas and policies keep getting re-elected. In the extreme, when elites tell Little Sisters of the Poor that they must get behind contraception, there is revolt and revulsion. We get Trump and Trumpism. Problem solved?
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