You may have seen this before, but if you haven’t, it’s worth watching, if only to remind yourself of the amazing arrogance of ignorance. While self-styled pundits and stock-market cheerleaders like Arthur Laffer and Ben Stein helped to lead many off an economic cliff, financial advisor Peter Schiff was spot-on in predicting the current recession.
By the way, Ben Stein helps to confirm the theory that stupidity (or at least willful, ideologically-driven ignorance) is not “domain-specific”, unlike some forms of genius: in addition to having ridiculed the truth about the economy long after others had accepted it, he’s a major evolution-denier and “intelligent design” promoter, having been primarily responsible for the incredibly misleading “Expelled: no intelligence allowed“.