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.
August 11, 2014
As I entered the locker room, I heard my name called out. Cringing, I stopped and turned around slowly. The man who had called my name, “Cam” Deveny, walked up to me to ask what I knew would be the inevitable question. “Frank, what did General Electric do today?” “I don’t know,” was my answer. “Well,” he went on “then what did the...