"Lucas says: "You don't know anything," and in his more humble moments: "I don't know anything either, and therefore the government shouldn't do anything." Well, there is no well-defined criterion of the government's not doing anything. What he says the government should do and calls doing nothing is doing something very different from what the government has been doing for the last 40 years. Why is making a radical change of regime suddenly doing nothing? You see, we have had a regime that can be associated with the most successful period of capitalism in recorded history. Suddenly, he calls for a constant money growth rule. How, possibly, can one conclude that? I say, if he doesn't want "to do anything", then we should keep doing what we have been doing, for we haven't been doing that badly. To make a radical change in regime all of a sudden, gives us what we have now; a new depression. Right? We have a new regime now, or maybe we have if it is not overturned, partly because these guys come along saying that compensatory policy, that is Keynesian policy, got us in all kinds of trouble. But it didn't get us in all kinds of trouble. In effect, they say that if you don't know what you are doing, you should do something entirely different from what you have been doing. I don't understand why that is a conservative or risk-avoiding policy."