Tyler Cowan needs the introduction.
So we'll just begin.
I want to ask you about the great reset.
So you wrote a book in 2017 called the complacent class.
And in it, you predicted a great reset.
You wrote, quote, at some point,
our country will face an immediate crisis and there won't be the resources or more fundamentally the flexibility to handle it.
Now, how are you so prophetic?
And is this a great reset?
You know, I think I need to reread that book.
I didn't quite think the great reset was coming as soon as it did.
It struck me as something five to ten years away.
But I do think it's here now.
We can still borrow at low rates of interest,
but we haven't shown the flexibility to adopt mask wearing or set up a serious enough test and trace regime.
And the American regulatory state and executive branch and also Congress, it's failed.
The Fed and Supreme Court, in my view,
have been quite good, whether you agree with every decision or not.
but just as institutions they're fully up and running and the rest is rotting and our willingness to just let things happen has finally caught up with us a little more quickly than I was thinking.
In the complacent class you predicted that after the great reset dynamism would be with us again.