March 19, 2012
Could Forrest Gump Plan Our Economy?
No one of sound mind would ever entrust the enormously complex U.S. economy to a small group of leaders who collectively possess the intellect of Forrest Gump. But can an assemblage of genius-level central planners really bring us any closer to "utopia" than a much less intelligent group of dopes? President Obama, Paul Krugman, Democrats, and the mainstream media all believe in a top-down approach to government, where economic activity is "fairly" dictated by a handful of "best and brightest" elites. They believe that the "average" citizen isn't smart enough to make the "correct" decisions with regard to something as "complicated" as the economy. Economists such as Friedrich Hayek, Milton Friedman, and Thomas Sowell would point out that the decisions necessary to run the U.S. economy (or any economy, for that matter) are so numerous and so complex that the combined intelligence of even the smartest thousand individuals falls incredibly short of what would be needed to...(Read Full Article)