By Thomas Sowell
There are things we don’t even know exist, much less anything about them. These are “unknown unknowns” — and they are the most dangerous. We had no clue, for example, when dawn broke on September 11, 2001, that somebody was going to fly two commercial airliners into the World Trade Center that day.
There are similar kinds of gaps in our knowledge in the economy. Unfortunately, our own government creates uncertainties that can paralyze the economy, especially when these uncertainties take the form of “unknown unknowns.”
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