A sense of surfeit engulfs this city —surfeit with economics and economists. Is it possible to reach critical mass in boredom? Economics, if anything, will do it. People here are saying what Sir Alec Douglas-Home said twenty years ago: political problems are insoluble and economic ones incomprehensible. Washingtonians who are otherwise responsible will greet talk of deficits, budget, taxes, money supply, etc. as MEGOs (My Eyes Glaze Over) and tune out.
I will argue here that it is the noneconomist’s civic duty to stay with the national economic issue to the bitter (or sweet) end. Let’s see whether, as economic illiterati, we can make some sense out of the economic esoterica.
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