Wisdom from Arnold

by Russ Roberts on November 20, 2009

in The Crisis

Here.

The narrative is more important than the facts. People like the narrative because it pleases them. Not because it’s true. Truth is elusive.

But evidence and facts do matter.

So when someone says the TARP was central to preventing disaster, don’t disagree. Don’t talk about how evil and anti-democratic it was to give the Secretary of the Treasury a $700 billion blank check with no accountability, a check he said he needed desperately and urgently because he needed to do x and then a week or so later, he did y. No, bring that up later. Instead, say the simple most important four words in the language of debate.

How do you know?

Simple. How do you know? What evidence do have for the claim? Always a good question.

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