Tag Name "Miscalculations" (3)

Politicians and bureaucrats are substituting their uninformed, largely political decisions for those of the marketplace. Their past miscalculations demonstrate that they do not and cannot possess the information, knowledge, means, and discipline to manage the economy.

We need to be skeptical of utopianists who offer unreliable totalistic visions of other worlds and strive to take us there. We need some ideals, but we also need to protect ourselves from the miscalculations and misadventures of visionaries.

People often of masterful intelligence, trained usually in law or economics or perhaps in political science, who have led their governments into disastrous decisions and miscalculations because they have no awareness whatever of the historical background, the cultural universe, of the foreign societies with which they have to deal.