 Vernon Smith received the 2002 Nobel Memorial Prize in economic sciences for his pioneering work in experimental economics. Over the past four or five years, starting under Donald Trump, the federal government has just pumped tons of money into circulation. Joe Biden recently proposed a $6.8 trillion budget. You know, we're experiencing inflation. What is the way out of that kind of situation? I think the first way out is for the central bank not to accommodate spend-thrifts in government. Because it's very hard to keep Democrats wanting to make the world better by spending other people's money. You know, they're really committed to that. And as Republicans to some extent, they could screw up. You're not going to be saved necessarily by them.