Monday 4 August 2014

"Trust-Me-I-know-what-I-am-Talking-About": The Carol Musyoka Edition

Facts and logical arguments are the arsenals on any discourse, especially if the subject entails matters of public concern. That was the basis of my recent article in the Business Daily where I was basically making my contribution to a debate on an issue where those who purpot to be experts only spew prejudiced views without substantiation; and they largely go unquestioned.
I thought that the Carol Musyoka piece that I was debating was a demonstration of a weak argument - so weak that one couldn't expect anything lower than that. But hey, trust Ms. Musyoka to beat her own record! For her latest piece, purpoting to respond to my arguments, is a dissaster to say the least. More than 99 percent of the essay is Ms. Musyoka's resume. I know why this is the approach: when the facts and logic do not support your case, you deploy a strategy called "trust-me-I-know-what-I-am-talking-about".
Oh, to be fair Ms. Musyoka spends 1 percent of her essay seeking to address the subject of the debate. And this is what she has to say:

 "Why have I quibbled so much about bank pricing, which I already hemmed and hawed about three weeks ago?  This is because my sentiments on the new Kenya Banks Reference Rate (KBRR), which come from actual practice rather than theoretical posturing about macroeconomic gobbledygook, have received some criticism as being the rambling justifications of an armchair analyst".

Now you get the drift. My argument is theoretical posturing; and hers is a manifestation of actual practice. On this I will delegate to John Maynard Keynes to respond, for he says in the concluding chapter of the 1936 seminal book, The General Theory, that:

“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”

I rest!

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