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.
November 16, 2022
Mansions result from great partnerships. It was a lesson I first learned as a 12-year-old caddy. I would always ask the person I caddied for what he did for a living. To me, he was rich, and I also wanted to grow up and be rich. However, my father had inculcated me in the belief, that if I wanted to succeed, it would be solely up to me...