Word of the Day
August 13, 2019
Conceit
An excessively favorable opinion of one’s own abilities, importance, or judgment; in the context of policy, the unfounded belief that bureaucrats and politicians possess sufficient knowledge to direct markets and individual choices better than free people acting in their own interests.
From Latin 'concipere' (to take in, conceive), evolving through Old French 'conceite' to mean an idea or fancy, and later developing the sense of excessive self-regard or an overly favorable opinion of oneself.
Usage Examples
- The conceit of central planners lies in their assumption that they can foresee how markets will develop better than millions of consumers making individual decisions.
- It takes remarkable conceit to mandate which vehicles Coloradans must purchase while ignoring the technology's limitations in cold climates.
- The conceit of the electric vehicle mandate is the presumption that politicians know the environmental impact better than scientists who study the full production cycle.
From the Show
Wayne Winegarden introduced the concept of bureaucratic conceit during the August 13th analysis of Colorado’s proposed electric vehicle regulations, arguing that policymakers display unfounded certainty about technologies and market developments they cannot predict.