Consider a professor of economics and the dullest student in his class. Let us assume that . . . the dull student becomes a king, and . . . the professor of economics becomes his principal advisor. . . . Such a minister has open to him three courses of action: he may resign; he can stop trying to improve the economic conditions of the kingdom and simply implement the king’s stupid ideas on economic matters; or he can try to deceive the king into carrying out the policies that he, the minister, thinks wise while agreeing with the king in council.
