Showing posts from September, 2010

Why the 'Experts' should never rule

Maybe it's just me, but I'm finding an overwhelming number of regular people who believe in 'trusting the experts' when it comes to policy.  It's very strange actually.  It is almost taken as a given that the experts should be in charge.

Here, I'll present a few arguments why the experts SHOULD never be in charge.

Experts really don't know everything
Well this is any easy one,  Experts really aren't that good.  We saw it with the recent financial crises.  Here we had some of our brightest minds in the financial world; countless models, countless authorities monitoring the economy... and yet... the experts didn't predict it correctly.  Whereas I met countless regular people who simply said... this housing market is crazy... it has to end.  Countless regular people who said, we're making too much money just on playing with money.  This is going to end.  In this regard, the opinion of experts and regular people were pretty much equally relevant whe…