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Despite what the technocratic classes may think, political "science" and economics are nowhere near medicine in terms of understanding what is best for someone.
by waterlesscloud 17y ago
Despite what the technocratic classes may think, political "science" and economics are nowhere near medicine in terms of understanding what is best for someone. Economics in particular is terrible at correctly understanding how people place value on their courses of action.
- kiba 17y agoThe job of an economist is to make fools of the technocrat. The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. -- F.A. Hayek, The Fatal Conceit
- yungchin 17y agoThat's all very true, I agree. But my point wasn't that they're good at what they do; my point was that they may still be better at it than we are for ourselves. You wrote "If you disagree with me about what's in my best interest, it's far more likely that you're wrong than it is that I'm wrong" - and it's not obvious to me that that is more likely.