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Bonus Quotation of the Day…

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… is from page 216 of Roger Koppl’s important – and today especially relevant – 2018 book, Expert Failure: Truth is only one of many things demanders [of ideas] want from ideas. And sometimes truth has nothing to do with it. Often, demanders in the market for ideas want magical thinking. By “magical thinking” I mean an argument with one or more steps that require something impossible. Unfortunately, experts often have an incentive to engage in magical thinking. Comments

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… is from page 216 of Roger Koppl’s important – and today especially relevant – 2018 book, Expert Failure:

Truth is only one of many things demanders [of ideas] want from ideas. And sometimes truth has nothing to do with it. Often, demanders in the market for ideas want magical thinking. By “magical thinking” I mean an argument with one or more steps that require something impossible. Unfortunately, experts often have an incentive to engage in magical thinking.

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Don Boudreaux
He is a professor of economics at George Mason University in Fairfax, Virginia. Previously, he was president of the Foundation for Economic Education.

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