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Tuesday, September 15, 2009

Ignorance (of economics) is not bliss!

Barack Obama may know how to give a speech or win an election, but he doesn’t know economics. Neither did practically every president from William McKinley to George W. Bush. Neither do most of the mainstream media, political pundits, and voting population who expect their government to make a silk purse out of a sow’s ear. As Murray Rothbard wrote, "It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance."
--from"Obama Knows…" by Kevin Duffy

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