The fun part about economics is there are no facts, just theories. The best theory is Adam’s Smith’s “An Inquiry into the Nature and Causes of the Wealth of Nations “.
EVERY theory since Adam’s is just a way of guiding the unseen hand.
The not fun part of economics is the misery attempts to manipulate it cause.
Those attempts come about because politicians are control freaks. Voters vote their wallets more often then not. A control freak that depends on votes for power would want control of the source of most votes.
So that is why politicians that aren’t worried about losing control produce the best economies.
Bush was more worried about war, so he left the American citizens to do what they would. That turned out to be prosper, so there was a good economy.
Clinton never had a chance to control the economy, Congress wouldn’t let him. Ronnie wasn’t worried about the economy. He would have but it interfered with his naps.
Clinton’s ideas of economy never evolved past how much money the Saudi’s were slipping him under the table.
The US economy always works better when the politicians leave it alone.
That is why Biden would make a good President. He would spend his days joy riding in Air Force One and let the citizens take care of the economy.
