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Hmm? Academic fakery to support some financial unreality isn't exactly new. Remember how some economists figured they wouldn't include important chunks of the f
by revolvingocelot 5y ago
Hmm? Academic fakery to support some financial unreality isn't exactly new. Remember how some economists figured they wouldn't include important chunks of the first world in an Excel calculation, in order to justify the grinding austerity favoured by right-wingers in the early 2010s? [0] They kept the data, they just decided not to include it in the calculations. Amazingly, actually including the data shows that the effects of a high debt-to-GDP on growth are negligible at best, rather than overwhelmingly bad.
Did they get anything more than a slap on the wrist? Are they still selling books based on the concept?
The breathless commentary regarding how perfidious psychology is threatens to sprain the muscles that govern the rolling of my eyes.
[0] https://en.wikipedia.org/wiki/Growth_in_a_Time_of_Debt https://en.wikipedia.org/wiki/Growth_in_a_Time_of_Debt