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Thomas Sargent places Patrick Newman in a tradition of American historians—Charles Beard, Forrest McDonald, Richard Hofstadter, and Murray Rothbard—who compress data and look for patterns in how the state is designed and managed. He draws the dividing line between those who read bad policy as unintended error correctable by better administration and those who see a government constituted with excessive powers that will inevitably serve some private interests at the expense of others, closing on Argentina’s industrial policies and their growing appeal among leaders of both US parties.
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Original article: https://mises.org/mises-wire/whistling-past-graveyard
Mortgage rates are at historically normal levels. They are not “too high.” On the other hand, home prices are too high after years of subsidy from artificially low rates and government intervention. The answer to the stagnating market is to cut prices.
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