Our political elite took supply for granted. They confused dollars with goods. Demand stimulus is a very short term and limited tool. If we get into debt to stimulate demand, what happens when we pay it back? Debts are always repaid – one way or another- even if you are not a Lannister.
Read More“The free world isn’t free because it is rich — it is rich because it is free. Freedom is not only a moral good but also a practical one: Because we have a system that enables us to fail quickly and fail cheaply, we can try many different approaches to social and material problems, throwing everything we have at them and seeing what works. Authoritarian societies, in contrast, have trouble adapting to fluid conditions, often discomfited by problems that cannot be solved with bayonets.”
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