Saturday, 21 December 2019

"It remains a common practice for economists (and others) to propose government interventions on the implicit assumption that these proposals will be heard, and carried out faithfully, by wielders of power possessing superhuman intelligence, information, wisdom, and benevolence." #QotD


"It remains a common practice for economists (and others) to propose government interventions on the implicit assumption that these proposals will be heard, and carried out faithfully, by wielders of power possessing superhuman intelligence, information, wisdom, and benevolence.
    "Routinely, people observe (or fancy that they observe) ways in which reality falls short of some imagined ideal, and then conclude that all that must be done to bring reality into closer alignment with the imagined ideal is to transfer more power and resources to government officials – or, at least, to the right government officials (which are those aligned with the angels and not with the devils).
    "Such a manner of thinking reflects the worst sort of superstition to which the human mind falls prey."

        ~ Don Boudreaux from his post 'Bonus Quotation of the Day…'
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