Behavioral economists say that since individuals are irrational, we need more state intervention in the economy. However, their criticism can be turned around: if individuals are irrational, government power is especially dangerous.
"Herein lies the key to changing society — changing public opinion or people's preferences toward government. And the only way people are likely to change their preferences is through education and persuasion; force is ineffective."
The more aggressive the central bank’s loose monetary stance is the more drainage of real wealth takes place and the less real wealth is left at the disposal of true wealth generators.
