The Stimulus and the Somme
9th January 2009
Arnold Kling draws an historical parallel.
My guess is that in 1916, anyone who doubted his own ability to direct an enormous offensive involving hundreds of thousands of soldiers would never have made it to general. Similarly, today, anyone who doubts the ability of a handful of technocrats to sensibly allocate $800 billion would never make it into government or the mainstream media.
I sure hope he’s wrong.