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.
December 18, 2017
As I was walking, my cell phone rang. I looked and saw it was my younger son. “Yeah, that’s good” I reminded myself. “He’s in the ‘States.’ ” My son has lived throughout the world for the past 15 years as a Foreign Service Officer with the U.S. State Department. He’s a diplomat. As a parent, it’s been fine, but Pakistan was a concern. ...