We think the government should too.
So what would a humble government economic policy look like? The ever-relevant historian of economics Amity Shlaes provides an answer. It means lower taxes for all, less regulation, no more "stimulus," and reduced entitlements.
What's "humble" about all this? Government admits it isn't smart enough to decide in advance who wins and who loses, what will be more or less effective economically. Voters stop trying to squeeze just a little more into their own pockets from Uncle Sugar. Everybody decides that punishing the rich is stupid.
The result? In Shlaes's words:
Humble policy then goes on to concentrate on trying to let our economy become that broad space that future businesses and industries still unknown, might find inviting.
Shlaes tags Mitch Daniels and Paul Ryan as two guys who are getting this. We agree, as consistent Gentle Readers with keen memories will note. Those guys remind us of Calvin Coolidge. We'd be happy to vote for either or both for national office in a couple of years.
Oh, and Shlaes is writing a biography of Coolidge.