The foolishness of depending on experts

There’s nothing remarkable about the particular questions that are raised and left unanswered in this video, a clip from some congressional hearing about the current financial crisis. What’s remarkable is that we as a society somehow persuaded ourselves that we could barrel carelessly along this dangerous, historically unprecedented path if only we charged a few experts with the impossible task of knowing everything that was happening, all the bad things that could happen as a result, and all the ways of controlling or compensating for any particular bad thing that cropped up.

Perhaps it would have worked, if such a level of understanding were possible. Or if we hadn’t been so eager to believe the lies of those who claimed to have that understanding.

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