codelorado

This comment highlights the most crucial insight on QE: it is a relatively novel monetary policy innovation that was implemented as an emergency response to the 2008 crisis on a very large scale and, as such, we had no experience using it. 14 years later, we’re finding out what it means for an economy to have the Federal Reserve buy a large amount of US debt.

As per Wikipedia, a distributed system is: "a system whose components are located on different networked computers, which communicate and coordinate their actions by passing messages to one another from any system."

You're describing consensus algorithms.

There is a kernel of truth in there, I'll give you that. It is hard to extract social sciences from the zeitgeist.

But let's call a spade a spade: this is just another iteration of Marxist epistemological ideas. For Marx, the division between the proletariat and the bourgeoisie was much deeper than exploitation. Bourgeois had their own unsound systems of intertwined knowledge built to benefit their position in society.

Not to be flippant, but that's how forced re-education was morally justified by socialist regimes of the 20th century.