Making the best use of knowledge

[David] Hume and [Friedrich] Hayek stressed the limited nature and impermanence of knowledge. Hayek observed that knowledge is not concentrated in a single authority but dispersed across the population. A free and open society, with capitalistic institutions of private property and enforceable contracts, uses knowledge better than central planning. A free society enables a better balance of conflicting objectives and the achievement of objectives with less sacrifice of other wants.

Today’s corporate press

Today in the United States, the corporate – or ‘mainstream’ – press is massively consolidated. And it has become remarkably monolithic in viewpoint, at the same time that an increasing number of journalists see themselves less as objective reporters of the facts, and more as agents of change.

Familiarity vs. knowledge

Among the innumerable mortifications which waylay human arrogance
on every side may well be reckoned our ignorance of the most common
objects and effects, a defect of which we become more sensible by
every attempt to supply it. Vulgar and inactive minds confound
familiarity with knowledge and conceive themselves informed of the
whole nature of things when they are shown their form or told their
use; but the speculatist, who is not content with superficial views,
harasses himself with fruitless curiosity, and still, as he inquires
more, perceives only that he knows less.

Consider the source

[T]here seems to have been an actual decline in rational thinking. The United States had become a place where entertainers and professional athletes were mistaken for people of importance. They were idolized and treated as leaders; their opinions were sought on everything and they took themselves just as seriously — after all, if an athlete is paid a million or more a year, he knows he is important … so his opinions of foreign affairs and domestic policies must be important, too, even though he proves himself to be ignorant and subliterate every time he opens his mouth.

Time-binding

It is largely because civilization enables us constantly to profit from knowledge which we individually do not possess and because each individual’s use of his particular knowledge may serve to assist others unknown to him in achieving their ends that men as members of civilized society can pursue their individual ends so much more successfully than they could alone.