Do we have the capability to eliminate booms and busts in economic activity? The answer in my judgment is no, because there is no tool to change human nature. Too often people are prone to recurring bouts of optimism and pessimism.
January 09, 2018
The start of a new year is globally a time of celebration. It is a new beginning with a universal theme of optimism. But how many of us in the past 10-15 years have genuinely felt a sense of anticipation as a New Year began? This year we can and should feel that way. The long-term average Gross Domestic Product (GDP) for the United States...