The core fallacy of central planning

At Bastiat’s Corner I saw this:

The fundamental fallacious assumption that all central planners make in the course of their divine intervention into our personal affairs is not that they are smarter than the average person or even that they are the smartest person alive.  Rather it is that they are smarter than all of us put together.

This has been covered by many of the Austrian Economists over the years but it is always nice to state it explicitly if only to remind one’s self of the central evil of the planners.

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