Archive for August 7th, 2010

It’s Uncertainty, Stupid! »

Apparently, the “Brains Trust” really is stupid if it doesn’t understand “Government and the Uncertainty Trap,” year after recessionary year. For years, economist and historian Robert Higgs emphasized (and measured) “regime uncertainty” as a cause of the Great Duration — i.e., why the Great Depression “lasted so long.” Higgs’ “delicious expression” is starting to...
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