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April 09, 2014

"Redefining the Problem of Our Time"

Arnold Kling, as he virtually always is, right on the money:

If you had asked me, I would have said that the defining issue of our time is unsustainable government finance. Most major national governments have made promises that they are unlikely to keep. Our state and local governments are cutting back on services, and in a few cases going bankrupt, in order to pay pensions to former employees. The outlook for politics is grim.

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