Should the Government Buy Stocks?

Given President Trump’s fixation with the stock market, it was inevitable that wild equity-price swings would push his Administration toward wild ideas for supporting the market. And here we are, with mounting proposals that government should buy stocks.

Some of our friends on the right think this is a time for extreme creativity. They suggest government stock buys could be a supply-side stimulus (by putting a floor under the market and cutting business’s cost of capital) or could pave the way for individual Social Security…

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