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 05, 2013
The seven-year-old entered the building and walked through a dimly lit hallway. He stepped around the body of a drunken man passed out on the stone floor then knocked on the apartment’s steel door. The door was supposed to protect you from the outside world. The outside world was Charlestown and the apartment building was public...