{"id":35172,"date":"2018-06-17T13:24:15","date_gmt":"2018-06-17T18:24:15","guid":{"rendered":"http:\/\/olduvai.ca\/?p=35172"},"modified":"2018-06-17T13:24:15","modified_gmt":"2018-06-17T18:24:15","slug":"chasing-the-wind","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=35172","title":{"rendered":"Chasing the Wind"},"content":{"rendered":"
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Chasing the Wind<\/strong><\/a><\/h3>\n

Futility with Purpose<\/strong><\/p>\n

Plebeians generally ignore the tact of their economic central planners.\u00a0 They care more that their meatloaf is hot and their suds are cold, than about any plans being hatched in the capital city.\u00a0 Nonetheless, the central planners know an angry mob, with torches and pitchforks, are only a few empty bellies away.\u00a0 Hence, they must always stay on point.<\/p>\n

\"\"Watch for those pitchfork bearers \u2013 they can get real nasty and then heads often roll quite literally. [PT]<\/p>\n

One of the central aims of central planners is to achieve effective public exhortation.\u00a0 While they pursue futility, in practice.\u00a0 They must do so with focus and purpose.<\/p>\n

For example,\u00a0economic reports<\/a>\u00a0with impressive tables and charts, including pie graphs, are important to maintaining the requisite public perception.\u00a0 Central planners know that financial scientism must always be employed as early and often as possible.<\/p>\n

Statistics, with per annum projections, particularly those that show increasing exports and decreasing imports, are critical to maintaining the proper narrative.\u00a0 The USA\u2019s embarrassing deficit in the balance of international payments will certainly diminish if it is sketched accordingly in an \u201cofficial\u201d report\u2026 right?<\/p>\n

Yet the planners always disregard the simple observation that an economy is composed of countless, and variable, inputs.\u00a0 How is a new discovery or technology, and its effect on investment and labor, to be anticipated and forecast?\u00a0 How are the actions of 7 billion individuals to be modeled and displayed on a tidy diagram?<\/p>\n

\"\"Good old Friedrich A. Hayek\u00a0 \u2013 depicted above \u2013 once coined the term \u201cscientism\u201d to describe the futile attempts of assorted social engineers and their academic advisors to express human action in the form of barren mathematical equations and statistics. Lettuce look at something one of his followers, the late Professor Austin L. Hughes, wrote in an article published in the autumn 2012 issue of \u201cThe New Atlantis\u201d journal:\u00a0<\/em><\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Chasing the Wind Futility with Purpose Plebeians generally ignore the tact of their economic central planners.\u00a0 They care more that their meatloaf is hot and their suds are cold, than about any plans being hatched in the capital city.\u00a0 Nonetheless, the central planners know an angry mob, with torches and pitchforks, are only a few […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5728,125,153,2299,201,11763,2084],"class_list":["post-35172","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man","tag-central-planning","tag-complex-systems","tag-control","tag-deficit","tag-mn-gordon","tag-statistics"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35172"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35172\/revisions"}],"predecessor-version":[{"id":35173,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35172\/revisions\/35173"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}