Saturday, September 1, 2012
Frederick Hayek on the Buffoonishness of Central Planning
"The curious task of economics is to teach men how little they know about what they imagine they can design."............I would simply add that it's also a difficult task, and especially so when it comes to educating the bureaucrat/politician/ideologue.
Subscribe to:
Post Comments (Atom)
3 comments:
Unfortunately John Maynard Keynes out razzle dazzled Frederick Hayek. Quite unfortunately I must add.
As was once said, and remains still entrenched in our economic policy today.. . "We're all Keynesians nowj.
I don't have a problem with spending as long as there's a point to it (infrastructure bank and charter schools, for example). But this whole deficit spending on stuff that we may or may not need in an effort to make us prosperous is insane. I mean, our GDP is over 70% consumption NOW! We aren't spending enough?
Will: Yes, a specific narrowly-defined point. As opposed to the general idea that the best situation possible is for the government to take as much money as possible from taxpayers (who are ignorant and have no idea what the best use of their own money is) and dump it all into a slush fund to be used by what WD termed as the 'brillian bureacrats' for anything they see fit to spend on. And through this process everything gets better.
Post a Comment