The conservative party in Britain elected Rishi Sunak as its new prime minister, and he will soon take office as prime minister. He will succeed Liz Truss, a conservative colleague who left her position this past week after just 45 days of service.

She held the position for the shortest period of time in UK history. But it lasted long enough to tip the economy over a precipice. Liz Truss's proposed mini-budget shook the financial markets, drove the pound tumbling, and compelled the Bank of England to step in.

Rishi Sunak was unperturbed and unsurprised although markets were. When he ran against Liz Truss in September for the position of party leader and prime minister, he cautioned that her economic proposals were too dangerous. He was correct, too.