Madmen in Authority
With concerns about Italy's public debt growing, Italian populists have taken a page from US President Donald Trump's playbook and threatened to blow up the eurozone if they don't get their way. The European Union must resist the temptation to engage in a dangerous game of chicken.
PRINCETON – In The General Theory of Employment, Interest, and Money, John Maynard Keynes famously worried that, “Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.”