The Cost of the Economy

I think they could at tremendous cost of the economy. They just can't do it, so they're not going to expend resources trying. So our economy is... It's tremendously beneficial that we are awash in liquid assets and all this financial innovation. That's making our economy great. But fiscal theory is much in the Chicago tradition. We're trying to get a bead on you, John. Half of you is this sandal-wearing Berkeley kid who got his doctorate in the late 70s. No, no. Mid 80s, please. Oh, so you went to the Reagan White House. You were a child when he went to the research assistant. All right.