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 05, 2024
At the end of October 2023 my colleague, Frank Boland, invited me to a visit with a client. I spent many years communicating with this client via email and phone calls. It was wonderful to finally meet them in person. A few short weeks later, on the day before Thanksgiving, I was at a pub with a friend when I heard the news that Frank had...