A guy who smokes meth can pull a week of 15 hour days. But come next week… .
That’s how artificial “incentives” work on the economy. On the macro level, it is the Boom — and Bust — business cycle, whose unnatural peaks and valleys are caused by manipulation of money and credit, which causes excessive and unwarranted “investment” that — inevitably — leads to a downturn (or even a crash) when the artificially induced supply is disproportionate to demand. The housing bubble of the early 2000s is an obvious example of this.
Stay informed.Stay ahead.
Join Washington Examiner for unlimited access to the news, analysis, and commentary that matter most.
See Options
Already a member? Log in
Already a print subscriber? Click here to login/register your account
