tag:blogger.com,1999:blog-3498725671447004370.post6520950727369412181..comments2023-10-26T07:19:41.446-05:00Comments on Science Avenger: Simplicity in Action: A Townhall Exchange on the EconomyScienceAvengerhttp://www.blogger.com/profile/00855046387193200080noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-3498725671447004370.post-73466175985312032262009-04-01T22:24:00.000-05:002009-04-01T22:24:00.000-05:00I agree Troublesome Frog. It seems clear that the...I agree Troublesome Frog. It seems clear that there are some aspects of society that are not best left to the constant judgement of the masses. I'd point to the Supreme Court as a good example. We all have decisions we'd like to see decided differently, but overall its hard to imagine the kind of idiocy we see in the other branches there.ScienceAvengerhttps://www.blogger.com/profile/00855046387193200080noreply@blogger.comtag:blogger.com,1999:blog-3498725671447004370.post-54462855743099324572009-04-01T14:49:00.000-05:002009-04-01T14:49:00.000-05:00This CharlesLPKY guy would make a terrible busines...This CharlesLPKY guy would make a terrible businessman. Sometimes businesses have to risk bankruptcy to get a profitable product to market. You do what you have to for family, too. This guy seems so smug - so confident that he is in control. Life might hold some surprises.<BR/><BR/>Of course, the whole discussion is based on a faulty premise. The US is nowhere near being unable to pay debtors - the national debt is less than 2X income (GDP). The larger risk is that we are running out of creditors. But to pay the debt requires taxes, and these folks see taxes as an assault on their god.Luke H.https://www.blogger.com/profile/17526959547500069166noreply@blogger.comtag:blogger.com,1999:blog-3498725671447004370.post-62585335810378145962009-04-01T12:37:00.000-05:002009-04-01T12:37:00.000-05:00When people ask why I prefer a bunch of technocrat...When people ask why I prefer a bunch of technocrats at the Federal Reserve controlling our money supply rather than elected officials, this type of thing is pretty much why. People are bad at any reasoning process that conflicts with their immediate common sense instincts, and that problem just gets worse as you get into banking and macroeconomics. Even in the face of clear and unambiguous reasoning, the first instinct often wins out.<BR/><BR/>It's interesting to consider, but it makes perfect sense to me to trust elected officials with nuclear bombs but not with the financial system. Just about everybody has a solid intuitive grasp of the immediate and most important consequences of using nukes.Troublesome Frognoreply@blogger.com