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.
October 17, 2018
If we could choose a genetic gift, most of us would probably choose to be a creative genius. To be someone such as Elon Musk or Michelangelo would be perfect. Or at least, we think it would be. Who could not be happy creating something that didn’t exist before? Unfortunately, this “gift “often comes with a heavy emotional price. ...