Experts, Expertise Quotes
A startlingly bad prediction by a Nobel-prize winning economist particularly given it was stated in 1998 rather than a much earlier date when the potential of the Internet wasn’t already apparent. Ironically, the quote is from a Red Herring article he wrote titled “Why Most Economists’ Predictions Are Wrong” in which he asserts that most economists predictions are wrong because they overestimate the impact of future technologies. This quote is part of a longer, equally incorrect quote: “The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law' becomes apparent: most people have nothing to say to each other! By 2005, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.” See related quotes.
The general principle applies to politicians consulting various experts in different ways.
Jul 07, 2025
3rd Earl Russell of Kingston. He arrives at the same place as Spinoza did in the 17th century although his reasons are different.
He was one of many who had been profoundly influenced by Spinoza on this critical point. See {624859}.