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Originally Posted by robespierre
Sure it was.
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It? Humankind has a huge history of bubbles. It's not a new thing.
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If you'd like to read about it, try this:
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I'm familiar with Mises and Austrian economics.
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Right, but the point is that you have no right to rule over anyone. The very idea that a central committee populated by the intelligentsia can plan the economy has been thoroughly debunked since 1919.
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"Right to Rule"? Every system needs rulers, and the basis for which they have any "right to rule" is arguable. I prefer this over any other form of popularity, force or some such.
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This information cannot be known by central planners, no matter their technologies.
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So, now technocrats are socialist and totalitarian? Not by definition.
I'd hardly say that the US is ruled by technocrats at all. Way too much political capital. And not surprisingly, the 'totalitarian' and 'technocrat' views are exclusive, or even mandatory.