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The Null Hypothesis's avatar

Anyone else notice that our political “elites” and to a lesser degree our intellectual “elites” aren’t that elite? This whole train of thought rests on the assumption that folks with power are not only altruistic in some way, but also very wise. I haven’t seen evidence of either.

Most policies seem to follow “something must be done. This is something. Therefore this must be done.” Start showing a deep understanding of issues and propose modest, well thought out policies- then maybe you earn the title of “elite”.

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Yancey Ward's avatar

Tyler Cowen is a fool, as are most of the academics of today. That I didn't understand that 15 years ago makes me ashamed today. It took their response to the COVID idiocy to pound that into my head, but I can see it now.

The government's performance is always under market judgment, but the legal and illegal coercion at its hand means that its failures are cataclysmic in the end rather than the occasional screw-up at isolated areas in a vast ocean of activity. The failures are correlated across all its activities at once when coercion and unlimited funds stop working. The United States and its first world allies are at that stage where the failures are now just beginning to impact their ordinary citizens (our failures have been impacting the third world citizens for the last 50 years). We are getting the government we deserve good and hard.

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