Michael Clark

mclark4@gmail.com

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Feature

The Economist Who Said Maybe

The answer to most economic questions begins with “I don’t know”

MARCH 21, 2014 by MICHAEL CLARK

Humility is the most crucial lesson of economics; the power of spontaneous order in the market always outpaces what any individual can imagine.

CURRENT ISSUE

December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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