|Man Without Qualities|
Monday, January 06, 2003
Negative views on the prospects for the economy in the coming year have had a lot of play in the media. The current media fascination with economic doom recalls 1992, when the incoming Clinton administration - backed by the mainstream liberal media in full battle cry - repeatedly argued that the economy had been reduced to a near-depression state with no real future barring capable Clintonian effort, willfully ignoring strong evidence that the recovery had begun. Of course, no one can predict the future with certainty. The doomsayers might be right this time.
But "might be" is not "more likely than not."
It is definitely worth one's time to read this excellent Wall Street Journal editorial, not as received wisdom, but for intelligent balance in making up one's own mind.
Which is always the point here, anyway.
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