In Jasper Fforde’s imaginative novel “First Among Sequels,” the British government is wrestling with a brewing crisis: a stupidity surplus. The Brits have managed national affairs so sensibly that the traditionally-used up amount of stupidity is left to accumulate, threatening to destroy society. It eventually overflows in one giant ill-advised lark. If readers need further proof that Fforde is among the most imaginative modern writers, this book is it. It only takes a quick look around to see that the real crisis facing the U.S. today is not a surplus, but a deficit of stupidity. Since the economy turned sour in 2008, consumers have curbed spending in unprecedented ways. Credit card use has tanked, savings have blossomed and hardly anyone is parlaying their home equity into a speed boat anymore. I wouldn’t go so far as to say Americans have learned basic economic sense, but they are behaving as if they have learned it, and as Milton Friedman would tell you, that can be just as dangerous. Tightening the financial belt after building an economy that presupposes extravagant spending is proving disastrous. Investors and entrepreneurs have made business decisions based on an assumption of continued wastefulness. How else can we […]
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