The Lazy Way Experts Talk Devaluation and Democracy

Jeff Deist recently poked holes in the lazy thinking required of Keynesian economists by asking, “Why is some inflation good, but not too much?”  Of course, Deist knows that no mainstream economist can provide a definitive answer, and the broad range of answers provided by this PhD holder or that Nobel laureate only proves Deist’s point.  “Everyone knows the answer,” the smug retort, and that is, bizarrely, accepted as gospel.  Or, “leave those questions to us, peasant,” is what’s implied, and the masses respond with, “yes, sir,” having immediately forgotten their question.  That same question can be asked of the many cherished beliefs in the political economy.  Why is some personal privacy good, but not too much?  Why is some mutual consent good, but not too much?  Answers to those questions differ greatly, depending on if those who answer are on the political left or right; what doesn’t differ, however, are the answers’ emotionality.  Answers to the following question yield no exceptions: why is some democracy good, but not too much? Read Full Article »