From Mike “Mish” Shedlock’s Global Economic Trend Analysis blog this morning:
In response to “Bubbles Ben to be Replaced by Calamity Janet”, reader “Robert” responded via email “Try thinking of the Fed not as headed by inept persons, but as run by persons whose deliberate intention is to bring about the sort of destruction it is in fact bringing about.”
I replied “Don’t buy it. I am not a believer in such conspiracy theories. But I am a big fan of Occam’s Razor: The simplest workable theory is most likely to be correct. In this case, the simple theory is: They are economic idiots.“
Mish may be right, but I question his claim that he is obviously the one following Occam’s Razor.
If Agent A does Act B which will foreseeably bring about C then the simplest explanation is that A wants C to come about.
Right?
Positing massive stupidity on the part of A seems to me to be the needless multiplying of “entities” that I thought Occam warned us not to do.
Any thoughts?
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Probably a more likely scenario is that they are sincerely mistaken because of defective economic education and a wrong world view. I don’t think the intention is to bring about destruction.