Boettke Quoting Evans: Priceless “Whether we “blame” central bankers or not is r

Boettke Quoting Evans: Priceless

“Whether we “blame” central bankers or not is really a secondary consideration to our attempts to understand what happened and why. By assigning blame we suggest that the Fed should have done better. … But the problem isn’t that individuals focused on the wrong targets, and the solution isn’t to work out how they can improve. The lesson should be that the nature of central banking – the attempt to centrally plan the monetary system – imposes an epistemic burden on policymakers that they cannot possibly ever fulfill. “

Yep. Priceless.

We should not attempt to find or train humans to suit our ideal concept of government. We should make a government that will tolerate the existence of the limits and frailty of humans.

And that is to say, the least government that is possible.

I don’t mean to say that we should eschew development of public services by private means. I simply mean to say that government is outside of the information system of the market, and as such, it is as blind as the statue of Justice was ever imagined to be.

While my libertarian friends do not agree, men do not hate government per se. They hate the abuse of it that is endemic to any bureaucracy, and in particular a monopolistic bureaucracy that exists outside of the market.