Progressive commentators usually berate business people for their greed. These days they berate them for sitting on tons of cash, refusing to invest and hire — in other words, for not being greedy enough. How can we integrate these two “faults” without resorting to an explanation like “regime uncertainty,” Robert Higgs’s term for an environment in which government creates such unpredictability that no one dare invest? In other words, the greedy business people would like to seek profit but are afraid to because they don’t know what inimical policies the government will come up with next.
Well, Progressive commentators, what say you?
