… why we should take seriously politicians who think that concocting increases in nominal spending power will keep the economy secure in the face of (1) government lockdowns that forcibly prevent a great deal of production from taking place, and (2) government- and media-stirred popular derangement that further dampens actual productive activity?
We are “governed” – a more appropriate term is “lorded over” – by people who, if we judge them by their publicly spoken words, are imbeciles. And these imbeciles, sadly, are cheered on by most intellectuals (some of whom even boast advanced degrees in economics).
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