We’d just like to refer visitors to an excerpt from a lecture given by Amity Shlaes, author of The Forgotten Man: A New History of the Great Depression.
Ms. Shlaes references the game of Monopoly and how it relates to the Great Depression and today’s economic challenges. The reason for the game’s success, she argues, is the predictability of risk and the reliability of the bank. When either of those premises fail, the game ceases to function. Much in the same manner, the economy relies on fundamental rules and predictability, yet those rules were tampered with substantially during the Great Depression, and are again the subject of broad intervention today.
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