Von Hayek in 1975 (you must hear this)

In light of the present crises, and the appalling ignorance of the present generation of policy makers of any historical understanding, it is so helpful to remember that we've been down this road before, and done all the wrong things before. Forget learning from history. The present generation does even know enough history to learn anything from it. So this interview really makes it clear what has come before.

This podcast not only illustrates the wisdom of F.A. Hayek, but also the cluelessness of the press on economic theory. You can listen here.