The Financial Muddle sitting on top of unintelligent respect

Big Frank in going through Bertrand Russell's "In Praise of Idleness" and read a very interesting essay - "The Modern Midas". Now keep in mind that this essay was written in 1932, yet most people still hold finance and finaciers in, what Russell calls, "unintelligent respect". In many ways this is what led to the most recent economic crash; but, in its wake what has really changed - the general public's attempt to understand - their continued tolerance and even respect for the crazy financial gipperish that financiers use to mask shenanagans? No change!

Here's an excerpt from Russell:

"Wherever the few have acquired power over the many, they have been assisted by some supersitions that have dominated the many, Ancient Egyptian priests discovered how to predict eclipses, which were still viewed with terror by the populace; in this way they were able to extort gifts and powers which they otherwise could not have obtained. . . This condition of unintelligent respect on the part of the general public is exactly what the financier needs in order to remain unfettered by the democracy. He has, of course, many other advantages when dealing with opionions. Being immensely rich he can endow universities and secure that the most influential part of academic opinion shall be subservient to him. . . Being the possessor of economic power he can distribute prosperity or ruin to whole nations as he chooses. But I doubt whether any of these weapons would suffice without the aid of superstition. It is a remarkable fact, that in spite of the importance of economics to every man, woman, and child, the subject is almost never taught in schools and even in universities is learnt by a minority. Moreover, that minority does not learn the subject as it would be learnt if no political interests were at stake. There are a few institutions that teach it without plutocratic bias; but they are very few; as a rule the subject is so taught as to glorify the economic status quo. All this, I fancy, is connected with the fact that superstition and mystery are useful to the holders of financial power."