In this week’s Takimag, the good doctor turns his gaze toward the irresponsible and profligate monetary and fiscal policies pursued by most Western governments seeking to square that proverbial circle in an attempt to win the next election.

For many years, the policy of several Western governments has been, by various subterfuges, to live beyond their means, to spread largesse they do not have, to put off the reckoning to another day, to deceive the electorate into thinking that what cannot continue will nevertheless continue, and moreover continue forever.