From Chris Coyne's After War: The Political Economy of Exporting Democracy:
"...Nobel Laureate Milton Friedman, writing in the area of monetary policy, noted not only that policymakers lack the requisite knowledge to develop and commit to effective discretionary policies, but that there is a time lag between the recognition that a policy is needed and the design and ultimate implementation of that policy. The passage of time is itself an issue because a policy that is appropriate in one period may not be appropriate in subsequent periods."
Hmmmm yet another problem with policy-based manipulation of an infinitely complex market.
Decoupling from China?
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Maybe, but maybe not: Amid the current U.S.-China technological race, the
U.S. has imposed export controls to deny China access to strategic
technologies...
3 hours ago
The first rule of good economic policy is don't legislate the market. The second rule of good economic policy is DON'T LEGISLATE THE MARKET.