Sunday, November 16, 2014

Econorat

An economist who misguidedly views his role as being one of a technocrat who providessmicromanagement advice to governments on how to centrally plan parts of an economy.

This perspective flies in the face of theories developed by such economists as Ludwig von Mises and Firedrich Hayek, who explained why micromanagement of economies will always fail.

SEE:

Planned Chaos by Ludwig von Mises

Individualism and Economic Order by Friedrich Hayek