Wise Bureaucrats in Government?

 

                   

Steve Forbes, on Forbes.com, a few years back,  wrote a piece of basic economics for the laymen, which I repeat here, for the public to learn and remember.

                                   

The media does a poor educational job, but Mr. Forbes sums up a bit of Education 101, also for those whose parents have bankrupted themselves to send kids to college.

                       

Mr. Forbes reflects on the erroneous supposition that there are always ”wise” men around who try to manipulate economic problems and fine-tune the necessary financial remedies necessary to mitigate and rectify problems. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)