Much that we have done was very foolish

Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.

John Maynard Keynes

To act on the belief that we possess the knowledge and the power which enable us to shape the processes of society entirely to our liking, knowledge which in fact we do not possess, is likely to make us do much harm.

Friedrich August Hayek

The following video is worth a listen.  In case you don’t know Keynes and Hayek by now, the theories are still active today.  In light of QE2 and the impact on out economy, it may be time to familiarize ourselves (http://www.cnbc.com/id/39957072).

Want the back story?  Check out http://www.dailykos.com/story/2010/3/1/8929/21462

Want the behind the scenes: http://econstories.tv/

We shall not grow wiser before we learn that much that we have done was very foolish.

 Friedrich August Hayek