Sustaining highs

From Wikinormous

"Heller persuaded Kennedy to move leftward along this spectrum by stimulating the economy — effectively accepting higher inflation in exchange for more jobs."


"It worked for a time. The economy flourished; inflation inched up only marginally. But as the Kennedy administration became the Johnson administration became Nixon became Carter, growth stagnated and inflation skyrocketed. It was clear that, over the long term, the government could no more trade “a little inflation” for sustained growth than a drug addict could use “a little heroin” for a sustained high."' [1] From Cycles of Doom, nytimes NOAM SCHEIBER


Which leads to economic commentator Peter Schiff's allegorizing-party;