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It's hard enough to get people to understand the fairly straightforward concept of countercyclical spending (something that works even under a gold standard, and even under most of the less crazy marginalist models). People seem to believe that when the sovereign takes in a lot of money, it can afford to spend a lot of money, and when the sovereign takes in little money, it cannot afford to spend a lot of money... irrespective of the fact that these states are more often than not correlated to a bubble in the private sector and a significant underutilisation of economic capacity, respectively.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Oct 18th, 2010 at 05:27:11 AM EST
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I would not be surprised if there has been (and still there is) more aggregate effort to obscure these issues than explain. The Foxnews heads just have more explanatory authority than us.

Even when it come to education in general, forceful regression is almost non-controversial.

by das monde on Mon Oct 18th, 2010 at 06:05:02 AM EST
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