Mises Wire
Author:
Brian Balfour
Online Publish Date:
Is the economy “overheating,” or is it “humming” along smoothly? Should the Federal Reserve “prime the pump” to spur investment, or “pump the brakes?” Such questions of course use an engine metaphor to describe the economy. But why? In fact, the economy is more like a complex ecosystem rather than an engine or machine. Indeed, a machine is