A little knowledge is a dangerous thing in itself, but an overdose of arrogance makes it infinitely more so. Doubt that? Just lend an ear to the oracular pronouncements on global climate by those whose greatest skill is not comprehension but a talent for hogging the microphone.
Quadrant Online contributor Steven Kates passionately set down the dichotomy between those who create and those so riven by envy that they would bring it all down. True enough, but how did we get to this point? It is hard to be definitive but, leaving aside the fanatics, I think so-called experts have played a part in warping the minds and feeding the prejudices of those who in normal course would have relied on their common sense to guide them.
Unfortunately these days experts abound and are vocal. The common man and woman are intimidated lest they commit a faux pas by disagreeing with the received wisdom of experts. Take evolutionary theory. How many children, now adults, have been exposed to that diagram showing man emerging by serendipity through numbers of incarnations from his ape-like ancestors? Now don’t get me wrong. Evolution seems beyond much question except, perhaps, to religious nuts who think the Earth is 6000 years’ old. But, but … evolution based on sheer chance; on random mutations and natural selection? It simply doesn’t pass the sniff test. Only very clever people could believe it in that form without there being much more compelling evidence.
Climate change is the latest tablet of stone. Tell us again, experts, why the warming between about 1975 and, say, 2005 was attributed absolutely to man-made CO2 when it warmed by nearly as much between 1910 and 1940? And why did it cool between 1940 and 1975, when CO2 was rising, and why has the global temperature remained broadly constant since around 2000? I don’t get it.
Those who engage in purely academic debate can remain aloof. Those who want to turn our economic life upside down because of their theories have a duty to get down and dirty on our terms and explain (and re-explain) their case ad nauseam.
Many economists have a theory. They, too, have turned economic life upside down; literally so. The theory, originating with Keynes, is that spending money creates wealth. That’s curious. You might say, with your powers of common sense, ‘it has never worked for me.’ Put that aside and follow the theory and see where it leads.