THE AUDACITY OF DOING NOTHING:

“Back in the 19th Century, there were a lot of steep crashes, guys got wiped out, and the economy came back quickly.” What’s different now? The government is a lot bigger and more powerful. Rich companies and people can put some of their wealth into lobbying and demand that the government prevent them from getting wiped out (or at least slow the process).

Resisting that pressure would be more audacious than any of our politicians are likely to be. Or even to imagine being . . . .