The lesson I learned is how little we know, the world is complex not some circular flow.
The economy is not a class you master in college, to think otherwise is a pretense of knowledge.
F. A. Hayek via http://cafehayek.com/2011/04/the-fight-of-the-century-2.html
Obama should listen to Bill Clinton, who last fall seemed to be channeling Hayek:
Friedrich Hayek, The Fatal Conceit: “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”
Bill Clinton, 9/21: “Do you know how many political and economic decisions are made in this world by people who don’t know what in the living daylights they are talking about?”
The economy is not a class you master in college, to think otherwise is a pretense of knowledge.
F. A. Hayek via http://cafehayek.com/2011/04/the-fight-of-the-century-2.html
Obama should listen to Bill Clinton, who last fall seemed to be channeling Hayek:
Friedrich Hayek, The Fatal Conceit: “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”
Bill Clinton, 9/21: “Do you know how many political and economic decisions are made in this world by people who don’t know what in the living daylights they are talking about?”
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