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Barack Obama had a nickname for the highly credentialed economists who surrounded him during his first term. He called them “propeller heads.” It was his way of joshing—and asserting superiority over—figures such as Larry Summers, Peter Orszag, Austan Goolsbee, Jason Furman, and other wonks with impeccable CVs and intimidating confidence in their own opinions. The label reduced these résumé gods to propeller-beanie geeks. Like most Obama statements, it was also a self-flattering way for the president to demonstrate the value he places on intellection, data, and expert knowledge. He and his fellow progressives love the idea that reason, logic, and science legitimize the power they wield through law and bureaucratic diktat.
The public wasn’t so enamored. The weaknesses of the propeller heads became evident over time. No doubt because of their glorious self-image, the propeller heads assumed that government could easily implement their ambitious theories and complicated schemes. They assumed that human beings could be “nudged” into desired behaviors. They placed one set of values—efficiency, equality, safety, carbon or gender neutrality—ahead of others, especially individual freedom and religious liberty. They neglected or waved away unanticipated consequences. They treated disagreement or disobedience as irrational or pathological—a manifestation of racism or sexism or greed. They often went ahead with their plans regardless of disapproval or rejection.
The propeller-head mentality is “we know best.” It dominated the administration. It produced a stimulus that did not stimulate, an unpopular health care plan, a contraceptive mandate that inspired lawsuits against nuns, a cap-and-trade bill that never became law, a financial reform that squeezed community banks, a GM bailout that stiffed non-union pensioners, a series of coal and water regulations that put miners and farmers out of business. …
Credit: Original article published here.