Insanity: Doing the same thing over and over again and expecting different results.
— Albert Einstein
That, as much as anything coming from the psychiatric community, sums-up insanity. It is the delusion, the break with reality, that provides the force of Einstein’s definition. What he is saying is that for Action X there is Result A and that you can perform Action X (assuming that nothing go wrong in the execution) a hundred or a thousand or a million times and you will always get Result A. It is like gravity. You can stamp your feet, argue and intellectualize against gravity all you like and it won’t matter a bit. Gravity works.
The Physics of Economics – Tax Cuts
Economics is another sphere where we have empirical evidence that certain things work and certain things do not. When President-elect Obama announced that 40% of his new economic stimulus plan involved tax cuts on business and individuals, his aides admitted t... [Read Full Article]