Who Understands More About Economics?

[Propertarian]

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If you made this poll, please explain how it makes any more sense that "who understands economics better" be determined by a popular vote than it does to put a decision about aeronautic engineering to a popular vote.

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FYP-couldn't resist.

Anytime you try and claim that some sort of elite should you run into this one problem, amongst others:

Nobody agrees on who the elite is.

One group claims it is the elite, while another claims they are the elite, and another, and another.

In economics, there are Keynesians, post-keynesians, Neoclassical economists, Austrians, political economists, economics sociologists, institutionalists, behaviroal economists, Marxists, monetarists, post-autistics etc. Each group claims to understand economics, yet all the groups have different views on economics. Some groups literally are saying the exact opposite of what another group says. How are we to decide who really "knows best"?

You can say that you would prefer that decisions be made by natural law, or logic, or some objective standard, but that isn't possible. What is or isn't true or best is not written on a wall somewhere. The best we can hope for is intersubjectivity; politics cannot be escaped.

Fortunately or not, the majority has decided that it prefers to have specialists make these kinds of decisions anyway. If they don't get the results they want, then they pick a new person (and the specialists he/she picks).

And then there is that other obvious problem: give a small group of people a large ammount of power, and then they make just make decisions that benefit them, not decisions that are correct or right are good. This effect is much less strong when you give a large group of people a large ammount of power, as we have seen with the practice of democracies: democracies have ended slavery, and have worked towards ending segregation, racism, and poverty. All these things were the result of a majority voting to end a system that benefited them at the expense of a minority. Furthermore, even if a majority and a small minority were equally likely to try and rule in there own interest, regardless of the consequences for "others", majority rule would be better, because then the majority are getting their interests fulfilled, as opposed to the case of minority rule, under which the majority are not getting their interests fulfilled.

cliffnotes: whether or not it would be better if "those who know best" made the decision instead of the majority, the best procedure we have for deciding "who knows best" is majority vote.

[lozen]

The rich man will and will still not care usually and serve his best interests as well the poor man but may not understand his effect

[pvn]

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The rich man will and will still not care usually and serve his best interests as well the poor man but may not understand his effect

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Sounds like neither should make decisions for the other.

[hmkpoker]

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Anytime you try and claim that some sort of elite should you run into this one problem, amongst others:

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I never made this claim.

[Propertarian]

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Anytime you try and claim that some sort of elite should you run into this one problem, amongst others:



I never made this claim.

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If you voted for the rich, please explain how it makes any more sense that major economic decisions be determined by a popular vote than it does to put a decision about aeronautic engineering to a popular vote.


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I should have phrased it "Any time you claim some sort of elite should run the economy/society/politics".

In any case I made a brief case for democratic economics, as you asked.

[Borodog]

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I should have phrased it "Any time you claim some sort of elite should run the economy/society/politics".

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He never made that claim either.

[pvn]

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I should have phrased it "Any time you claim some sort of elite should run the economy/society/politics".

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He never made that claim either.

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Well somebody has to tell everyone else what to do!

[hmkpoker]

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If you voted for the rich, please explain how it makes any more sense that major economic decisions be determined by a popular vote than it does to put a decision about aeronautic engineering to a popular vote.


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I should have phrased it "Any time you claim some sort of elite should run the economy/society/politics".

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I don't get why you and dano seem to think that I am somehow advocating aristocracy. I'm simply saying that it is ridiculous to allow a major social decision be decided by a person or group of persons whom we acknowledge to have a poor understanding of the topic at hand.

As for my engineering analogy, I believe that all people, no matter what their educational background, should enjoy the complete freedom to decide how to calibrate the flux capacitor* on their own property. However, assuming that Social Comrade Airlines is having a serious problem with their navigational systems, and the position of navigational engineer is between two people with radically different engineering strategies and credentials, surely you see why it's ridiculous to allow the ignorant public to elect which one gets the position.



* I clearly know nothing about the subject and can't even come up with a good example [img]/images/graemlins/tongue.gif[/img]

[hmkpoker]

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I should have phrased it "Any time you claim some sort of elite should run the economy/society/politics".

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He never made that claim either.

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Well somebody has to tell everyone else what to do!

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POTD [img]/images/graemlins/smile.gif[/img]

[Propertarian]

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I'm simply saying that it is ridiculous to allow a major social decision be decided by a person or group of persons whom we acknowledge to have a poor understanding of the topic at hand.

[/ QUOTE ] I'm fine with you saying that this is ridiculous. But the problem is that all alternatives are even more ridiculous.