Exploiting the public's confusion about fiscal policy for political advantage is a danger not just to the economy, but to democracy.
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Plato had a famously dim view of democracy. He regarded politics as a craft, and thought that understanding the essence of a craft is to have expertise. Plato argues that we cannot hope the multitude to achieve expertise in the craft of governing. They are too easily misled by sophists. It followed, for Plato, that democracy must be rejected as a just system of governance. It is “probable that the origins of tyranny are found nowhere else than in the democratic regime.” (“The Republic”). A just system of government must have a philosopher king, who understands the essences of things. Translated into the modern context, Plato’s view is that the only just system of government is one that is run by one or several experts in economics and public policy. The multitude is too easily swayed by propaganda.
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