We have seen the future, and it sucks.

Credit Cards Don’t Kill Credit Ratings, People Do

29th May 2009

Jim Manzi doesn’t have a high opinion of the left side of the Bell Curve.

It is an unfortunate reality that there are many people who are not equipped to get along in a capitalist system. They lack some combination of (rarely) the basic intelligence and (much more frequently) the emotional maturity and self-discipline required to make their way in a world in which others are not looking out for them. Much of the rationale for traditional notions of child-raising, education and social organization is to prepare people to live in such a world. That is, to produce actual adults. To the extent that we can count on people to act responsibly, we can have a less regulated economy that will tend to produce greater freedom and growth. But the problem of how to deal with the semi-incompetent is a real problem that will never go away entirely.

2 Responses to “Credit Cards Don’t Kill Credit Ratings, People Do”

  1. Jim Manzi Says:

    Thanks for linking to the post. A point I was trying to make (I guess unsuccessfully) in that paragraph is that it’s not normally abstract reasoning ability, but emotional immaturity that is the problem here. Witness the NYT economics reporter who’s just written a book about this.

  2. Tim of Angle Says:

    I don’t readily associate New York Times reporters with emotional maturity, I must confess. And emotional maturity is a problem everywhere, and seems to be getting worse.