Veronique de Rugy
American Institute for Economic Research
June 10, 2020
Economist Robert Higgs is well known for showing that government grows according to a ratchet effect: Government expands rapidly during a crisis and then recedes after the crisis is over, but it does not return to the pre-crisis level of involvement in our lives. But at this point, we need to expand the concept to include the fact that each time a crisis arises, the size of government’s response gets bigger and bigger, thus making ever more unlikely a return to pre-crisis size.Read Full Article »