Another naive economics question: what is the bad thing that happens if we quadruple the deficit, or the national debt? And what is the nature of the connection here, if any, between economic theory and observed reality?
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The fact that the field of economics can't agree on foundational questions ("what is money") and sound like innumerate idiots when they venture into epidemiology makes me think this entire branch of social science is a scam. But I want to believe. Show me!
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Replying to @Pinboard
It's worth reading @DeanBaker13 or @paulkrugman about deficit spending debates from the *last* crash and ensuing "sequester" to get a crash course.
9:00 PM - 21 Apr 2020
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