Many economics professors have been saturated in the Keynesian notion that the government can and should manage the economy, including the system of money and credit. Of course, they feel the need to tell anyone who will listen (such as CNN) that candidates who favor de-politicizing the economy are “economically illiterate” and would flunk their superb courses. Here is a sharp comment on their arrogance.

All of this goes to show how narrow-minded many academics are. There are highly esteemed economists who maintain that fiat money and central banking are extremely detrimental, but the “mainstream” in the economics profession won’t pay any attention to their views, and keep telling students (and equally clueless reporters) that anyone who disagrees with them must be wrong.