The Pretense of Knowledge

Alan-Greenspan-007The American Public is highly vulnerable to many dangers, that result from a severe deficit of education, almost complete  ignorance, and an unrealistic high level of self esteem. I have written previously that the largest and fastest growing industries today are those which engage in human herding and opinion and behavior management.

Credential are a gold mine to anyone wanting to make a living off public ignorance and stupidity. Alan Greenspan, former Federal Reserve chairman is now speaking publicly about returning to the gold standard as the new calamity grows in seriousness.

Greenspan makes reference to period from 1870 through 1913 as being totally prosperous as the country was on gold standard. True, this was a prosperous and there was nothing wrong with being on the gold standard other than it was a government generated currency. This is the same guy who scared the public many times by pointing to the dangers of deflation. 1913 through 1970 is the only period in which the country experienced prolong deflation. Deflation occurred naturally when the productivity of labor increases. Greenspan does not understand economics. His credentials allow him to soak public endlessly with his pretense of knowledge. Greenspan does not understand economics but prospers greatly by the people who think he does. Yellen and Bernanke do not understand economics either.  There is a difference between knowing a lot of things and knowing something that has has utility to society.

In days to come this will be obvious. I am giving you advance warning. I have explained what money is. Money evolves naturally when work is performed. There is no way to avoid this relationship. Too much money only occurs when there is a perceived need to influence human behavior.

The Grazin’ Is Good, a wonderful Curbside Jimmy tune

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About Fantasy Free Economics

James Quillian is an independent scholar,free market economist, teacher of natural law, teacher and originator of the Fantasy Free approach to economics. James Quillian does not believe lies. Contact:
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