The market is a yo-yo following the S&P downgrade – investors are searching for stability amid the policy flux created by the current Congress and Administration. Businesses and investors are struggling to create and sustain stable and accurate expectations as to the rules they are likely to face in the future. Steve Horowitz gives…
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Independent Institute Senior Fellow Robert Higgs examines the serious problem of “regime uncertainty” being created by the feasting of federal spending programs starving (crowding out) the private investment needed for recovery from the recession: “Private saving and investment are the heart and soul of the dynamic market process. Together they provide and allocate the…
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