We’re all technocrats now

“The Constitution is very clear that the president is commander in chief of the military, but the president is not the commander in chief of the economy or of the people… The president is not supposed to manage and run the economy. The people are supposed to do this. The government is supposed to give them sound money, low taxes, less regulation. The people are supposed to run it.” – Ron Paul, January 30, 2008

No matter how obviously discredited by real world examples, the lure of centralized economic planning persists. That fatal conceit, the idea that if only the right people are put in charge, they can finally organize society in a perfectly equitable manner, refuses to fade into history. Somehow, the tragic failure of the Soviet Union’s centrally organized five-year plans isn’t used to mock those who espouse an economic worldview with the same failed premise. Case in point, a recent entry from Yahoo’s Power PlayersContinue reading