Quotation of the Day…

by Don Boudreaux on October 5, 2014

in Hubris and humility, Man of System, Seen and Unseen, State of Macro, Stimulus

… is from page 91 of Roger Koppl’s insight-filled 2014 monograph, From Crisis to Confidence: Macroeconomics after the Crash (footnote excluded):

It would seem, then, that policies intended to improve the economy can backfire by creating a crisis or making it worse.  From a comparative institutions perspective, it may be better to tolerate the relatively mild cycles of a largely unhampered market economy than to risk the larger crises that can follow from the attempts to prevent or correct them.


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