Source: Ludwig von Mises Institute
by Connor O’Keeffe
“It is often tempting to look back at the last few decades of government interventions in the economy and characterize the Washington political establishment as subscribing to some school of economic thought. They might be Keynesians or Monetarists, Chicago School neoliberals or budding believers of Modern Monetary Theory. In truth, the political establishment has no consistent economic philosophy. They have no single coherent explanation for why things like inflation or recessions occur. And by not committing to a coherent explanation for why we’re sometimes hit by these economic disasters, establishment figures are then able to use whatever possible explanation they find to be most useful at the moment things start to fall apart.” (03/12/25)
https://mises.org/mises-wire/who-gets-blame-upcoming-recession