Peter Schmidt recently wrote two article highlighting the fatal conceit of PhD central planners who populate the world’s central banks. You can read those articles here and here. But central banking is not the only place you find people suffering from fatal conceit and the delusional notion that they are smart enough to micromanage the economy. You find a lot of these people in government offices as well.
For instance, consider New York Gov. Andrew Cuomo. Before he moved into the governor’s mansion in Albany, Cuomo helped orchestrate the 2008 housing crash. Schmidt highlights Cuomo’s role in that horror story in the following article.