Adair Turner's account of financial markets is insightful but misunderstands the role of the state in creating financial crises.
Unless a dramatic political realignment comes to pass, it seems safe to predict that the United States will continue to run significant federal deficits well into the future. But what makes this sustainable, and for how long? While Law & Liberty has long covered issues of sovereign debt, deficits, and the role these matters play in politics abroad, with new record-breaking proposals for spending in the air, we thought it important to bring together a few distinguished authors to comment on these matters and how they relate to the current moment:
by Antony Davies
by James Wallner
by Leonidas Zelmanovitz