The Long Run Is Here

People count money at Macy’s Herald Square on Black Friday in 2015. (Andrew Kelly/Reuters)
And it kind of stinks.

NRPLUS MEMBER ARTICLE J ohn Maynard Keynes, progressives’ favorite economist, famously observed: “In the long run, we are all dead.” Lord Keynes had the good sense to die in 1946, when the credibility of his policy thinking was at its height. The rest of us are left to meditate on a proverb dear to Milton Friedman, conservatives’ favorite economist: “There is no such thing as a free lunch.”

The future is now, and it is not entirely satisfactory. The long run kind of stinks.

Here is a guide for predicting the future: The future is going to look a lot like the present, and the few

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