Rodrik!

CAMBRIDGE – Greedy banks, bad economic ideas, incompetent politicians: there is no shortage of culprits for the economic crisis in which rich countries are engulfed. But there is also something more fundamental at play, a flaw that lies deeper than the responsibility of individual decision-makers. Democracies are notoriously bad at producing credible bargains that require political commitments over the medium term. In both the United States and Europe, the costs of this constraint on policy has amplified the crisis – and obscured the way out. Project Syndicate

This is the typical crap we get from economists, and Dani does not disappoint. First he lists the reasons why governments are unable to respond when we have something close to democracy. So given the inability of government to respond, what does Dani do? Does he go update his theory to include government? No, he blames voters because they do not follow his theory. This is the Keynesian nonsense that causes the loss of democracy and war.

I got a plan that is clear as day, restore full democracy to the legislature. What we get from that is much more accuracy in government.