Can any of the various plans offered by political candidates accomplish anything good? No, argues Alan Reynolds here.
Reynolds correctly observes that “some business mistakes require time to be fixed. Too many houses were built in some areas, so prices have to fall to discourage more building and encourage more buying. Some banks made bad loans, so they need to become more cautious. Besides, if presidents really know how to avoid recessions, why do we keep having them?”
Unfortunately, politicians feel compelled to tell voters that they have miracle cures for everything, especially any sort of economic malaise.
