Bonus Quotation of the Day…

by Don Boudreaux on June 5, 2020

in Complexity & Emergence, Hubris and humility, Myths and Fallacies

… is this comment, offered on this post, by frequent Cafe Hayek commenter Richard Fulmer:

Someone who believes he can steer the economy is like a flea who believes he can steer a dog. While the flea can make the dog miserable, the dog is unlikely to end up where the flea intends.

DBx: Yes.

And – quite seriously – anyone who supposes that he, she, or a collection of government bureaucrats can possibly have access to enough information to outperform competitive market processes over time is delusional. Any such achievement is less likely than is the brain of a literal flea to grasp the theory of general relativity.


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