Disciplined governments do not engage in the economic equivalent of binge eating followed by crash dieting.
A government decision that slashes spending at the wrong time and sends a weak economy into a tailspin can be just as undisciplined as one that unleashes a wasteful spending spree in an overheated environment.
Just as an individual's ability to delay gratification at a young age is a powerful predictor of future academic and professional achievement, discipline is also central to the long-run economic health of nations.
It's probably indicative that I was destined for an academic career that I'm 6-5 and I lost the slam-dunk championship to somebody 5-8. I was a lot better at math.
Fear of foreign domination in India led the Janata Party, in the 1970s, to push for partial Indian ownership of all multinational firms within the country. The result was a spectacular pullback, by companies such as IBM and Coca-Cola, and a stagnant economy.
I think my wife would take objection to any characterization of me as perfect.
