Hello, Welcome to the tenth issue of Allison’s Ode to the Second Moment, a newsletter that shows you can hide risk...but it never goes away. Turning lead into gold I initially dismissed it. But it seems to be catching on, even respectable, to argue you can achieve long term, sustainable growth by increasing nominal wages through massive government intervention. The idea is if we pay low-income people more (increase minimum wage and/or massive redistribution), they