Lerner's Law is that if you try to hide your ideas in the language of status quo or existing popular lies, you will fail. In Lerner's case, the example was balanced budgets and the national debt. During the brief, imperfect years of great progress, the mid 30s through 60s, economists who understood money basically split into three camps. The first was a Lerner camp: tell truth about what is money. This was the radical position. The second was the popular camp of the academy: believe the people are too dumb to know the truth, so pretend money is what the old conservatives say it is, but with careful management, we can sneak good policy through. This was the the taken approach. It failed the moment there was a crisis and the "old conservatives" changed their own language and focus. The third was the Milton Friedman camp: tell the truth about what is money but having a different political end goal, advocate for the policy positions of the side that doesn't know money or lies about it. The first camp was small in number. The second camp found it easier to be selected for positions of power by playing off existing beliefs and not doing the work to change existing beliefs by the selectors of power (the politicians elected by the public to match the public beliefs). It might take an administration or a generation, after all, to learn, and your career depends on your appointment right now. Naturally, by acquiesing to the old lies for short-term credibility, three easily explainable inflation shocks allowed camp #3 to accuse camp #2 of ineptness. Camp #2, in scrambling to figure out how to fit themselves into the New Lie, of course failed. As the public only saw the failure of camp #2 to explain anything (since they don't explain things honestly) they believed camp #3. Since camp #2 outweighed camp #1, were sort of the synthesis narratively of the two camps but closer to #3, and would stomp on camp #1 to gain credibility "we're not these crazy radicals (who provide us all our true knowledge)" the public COULD NOT go to camp #1. They went to camp #3, we got money printing for the rich and austerity for the rest of us. You even had two generations of economists who were so confused that they tried to reinvent the wheels by confusing basic economic accounting identities with economic decision making. No wonder the Republicans have been running circles around us. But if economists were brave and smart and playing for the long run, we'd have Gay Luxury Space Communism, the cool American Capitalism style of course and not the oppressive choice-less Soviet version. If you tell people dumbed down lies to hide truths, they will be dumber for it and you will be stuck. But because people aren't actually stupid, just tired, busy, and interested in other things, their intuition over time is telling them not to trust you anyway. So they don't even go along with your sleazy ways long enough for you to pull off the policies you are trying to sneak by them.