"When the economy contracts, the government may use sound monetary and fiscal policy to help revive growth. But when wealth goes up in smoke, the government can't necessarily bring it back. If it tries, the effect is likely to resemble what happens when you give a recovering alcoholic a drink: deceptively pleasant at first, but ultimately calamitous." -Steve Chapman at Reason.com
As I've written before, I'm no economist so I don't know what exactly should be done about our sinking economy but I get the feeling that there isn't much any politician can do about it; of course, that won't stop any of this years candidates from promising to be able to handle it.
Tuesday, August 5, 2008
Something I Wish I'd Said
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1 comment:
Amen.
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