The technocrats are nowhere near as smart as they arrogantly believe. From Charles Hugh Smith at oftwominds.com:
We cannot advance until we dump the Technocrat Class and decentralize the power that the Liberal Establishment happily concentrated into the hands of corporate cartels and the central state.
Those who don’t yet understand our centrally-planned cartel-state system will benefit from reading How Democrats Killed Their Populist Soul (The Atlantic). I’ve presented related analyses in three recent essays:
What we’re talking about here is the Triumph of the Technocrats. There are multiple levels to this triumph of the technocrat class:
1. The dumbing down of the Technocrat Class via a Higher Education system that optimizes technocrat specialization at the expense of real-world business experience and broad-based knowledge.
As a result, the technocrat class has a very high opinion of its intelligence and judgment because it has no idea how little it actually knows or understands. It believes Higher Education’s hype that specialization has given it a superior understanding that entitles it to control and power.
This overweening belief in its own superiority sets the stage for hubris and catastrophically ungrounded decisions.
Need we look any farther than the invasion of Iraq or the Establishment’s response to the insolvency of self-liquidating money-center banks in 2008?
The roots of the Technocrat Class’s hubris and self-congratulatory bias goes all the way back to the 1960s-era “whiz kids” described by David Halberstam’s classic account The Best and the Brightest.
To continue reading: The Triumph of the Technocrats