People love to hate governments, and they loathe having to pay taxes. However, from now on, we’ll have to embrace more state intervention and the need for higher taxes or else legislate a more dirigiste system of directing personal savings into investment that isn’t so dependent on markets.
This can be either done preemptively or in response to the next financial crisis. It goes without saying that the former course of action is surely preferable to the trauma that will be experienced in the…
