Policymakers to blame. When they meddle with rates and deficits, they distort incentives and turn natural cycles into avoidable crashes.
I agree, policymakers bear blame. Yet the duty lies with a free and educated people who insist on honest data, opportunity, and justice to steady the cycles.
As Adam Smith, free markets with real competition work best. Crashes come from distortions like easy credit, monopolies, and bad laws, not from any natural cycle.
Indeed, policymakers bear the blame; yet the deeper mischief is a society drunk on quick fixes and grand rhetoric, mistaking slogans for strategy.
