Rothbard's quote is one of my favorites, too. Nice post by Munger.

Being aware of one's vast ignorance is always useful - and if one is also aware that prices communicate a certain kind of knowledge, so much the better

You have to have a basic understanding of the major arguments from both sides on the issue. If you've never heard that wages are related to productivity, then you shouldn't be arguing for the minimum wage.

Arguing the science of any particular field, I think, should be more or less open. An argument should stand on its merits or fall from a lack of them, and it really shouldn't matter whether the arguer either seems qualified or quotes from authority or whatnot, because the medium for expression is inductive and/or deductive argument itself. I think an economist and a layman can have a reasonable discussion on whether minimum wage legislation raises the unemployment rate of low-wage workers with no worries about one being uninformed or not.

However, many things change when the argument is normative in nature. The real risk is when the uninformed argue that something is right or wrong in particular.

I think it was C.S. Lewis who warned against pontificating off your subject of expertise, giving the example that he always knew when someone was talking idiocy about language and linguistics because he was a philologist. This sort of uninformed moralizing is unbelievably frequent: movie stars urge us that climate change is a moral imperative, pastors tell their flock not to buy t-shirts from malaysia because it hurts malaysians, journalists clamor for justice in the economy or justice in science where their expertise is truly in investigation and narrative.

I would say never pontificate unless you can back up your argument. In all other cases, it is perfectly acceptable to discuss with an open mind, or even argue for a specific point, but always with a sense of intellectual humility.

Go ahead and argue for things you don't know about, but acknowledge your limitations. If I argue a point I'm not qualified to argue, I offer my argument with the caveat that I may be wrong.

If people (were taught to) start with a sense of intellectual humility and honesty, they would be able to learn more, and arguments would be more civil and productive.

The summer night is like a perfection of thought.
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If you believe the doctors, nothing is wholesome; if you believe the theologians, nothing is innocent; if you believe the military, nothing is safe.
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I think we should encourage people when they finally figure out correct ideas, even though they should have known better and it is frustrating that it took so long.

Encouragement is a better teaching tool than blame.

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