Wednesday, September 29, 2010

As I Was Just Saying...About Ignorance...Remember?

From Mankiw via Newmark's Door:

Bill Clinton channels Friedrich Hayek
(with an addition by yours truly)

Friedrich Hayek, The Fatal Conceit: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."

Bill Clinton, 9/21: "Do you know how many political and economic decisions are made in this world by people who don't know what in the living daylights they are talking about?"

 Homer J. Simpson: "Never underestimate the power of stupid people in large numbers."