No, radical ignorance is not a reference to our opponents’ intellect. Radical ignorance is the condition in which we all live our lives: uncertain of the interactions between complex consequences of our actions and the future that they bring. Given imperfect information, individuals do not always make optimal decisions. However, individuals are still in the best position to act for their own betterment and generally the betterment of those around them.
Within a free market, individuals use their specialized knowledge along with vital price signals to guide their actions in the face of scarcity. This is the market’s greatest strength. The government’s inability to utilize price signals is its greatest weakness and the fatal conceit of the socialists of all parties.
At radical ignorance, we question what humans think they know about their ability to design a social system that allocates resources efficiently and without distorting existing incentive structures. This flaws of design cannot be revealed without an understanding of basic principles of economics. By observing and commenting on the passing scene, we hope to paint a picture of the economic world we live in.
What in the World is Radical Ignorance?
No, radical ignorance is not a reference to our opponents’ intellect. Radical ignorance is the condition in which we all live our lives: uncertain of the interactions between complex consequences of our actions and the future that they bring. Given imperfect information, individuals do not always make optimal decisions. However, individuals are still in the best position to act for their own betterment and generally the betterment of those around them.
Within a free market, individuals use their specialized knowledge along with vital price signals to guide their actions in the face of scarcity. This is the market’s greatest strength. The government’s inability to utilize price signals is its greatest weakness and the fatal conceit of the socialists of all parties.
At radical ignorance, we question what humans think they know about their ability to design a social system that allocates resources efficiently and without distorting existing incentive structures. This flaws of design cannot be revealed without an understanding of basic principles of economics. By observing and commenting on the passing scene, we hope to paint a picture of the economic world we live in.