And it must be admitted, a general lack of economics education being operative, that many people expect politicians to have a plan for government intervening in the economy to ward off a slowdown.

Surely everyone remembers that timeless refrain from the 1958 hit song “Witch Doctor” — “Oo ee oo ah ah, ting tang, walla walla bing bang.” Just as surely everyone has been wondering lo these 28 years ...