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.
September 15, 2017
The other day I pressed the Uber app on my cell phone for the first time. As it opened, I became fascinated by its simplicity. It showed me where the car was, how long it would take – six minutes – and the name of the driver as well as the type of car. It also showed what the total cost would be. Its simplicity was elegant. Such elegance...