• This Is What They Think of Us...

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    by Simon Black: The
    Expat Widow



    all of us little people just need to sit down and keep quiet…
    so sayeth Kartik Athreya, senior economist for the Federal Reserve
    Bank of Richmond.

    In a
    recent paper
    entitled “Economics is Hard. Don’t Let
    Bloggers Tell You Otherwise,” Mr. Athreya chastised the world
    of bloggers, talking heads, and anyone else who isn’t named
    Kartik Athreya for speaking their minds about economic policy. Clearly,
    everyone else is too stupid to have an opinion.

    who have not taken a year of PhD coursework in a decent economics
    department (and passed their PhD qualifying exams), cannot meaningfully
    advance the discussion on economic policy,” wrote Athreya.
    “[I]t is exceedingly unlikely that these authors have anything
    interesting to say about economic policy.”

    Yeah, OK, there
    are a lot of dimwits out there… but this sort of “shut
    up and do as you’re told” mentality is precisely what
    is so flawed about the system to begin with.

    be honest, though, this isn’t indigenous just to the United
    States. The powers that be have been doing this for centuries. Even
    the Greeks, arguably among the more enlightened of early civilizations,
    sentenced Socrates to death for asking too many annoying questions.

    Over the years,
    intellectual discourse has been squashed through fear and coercion,
    giving rise to such illustrious events as the Dark Ages and Inquisition.
    These days, if anyone gets out of hand, they send the cops out in
    their blackest, most intimidating paramilitary gear… just to
    send a message.

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