卧底经济学4

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• Carmen Reinhart and Ken Rogoff presented a research paper called “Growth in a Time of Debt” in 2010, at a time when politicians everywhere were fiercely arguing about the wisdom of getting into further debt in the hopes of kick-starting the economy. From a bunch of statistical correlations between countries’ growth rates and their debt/GDP ratios—which are a simple way to measure how much money a country’s government has borrowed, relative to how big the economy is—Reinhart and Rogoff presented what quickly became a famous result: If a country’s debt/GDP ratio rises about 90 percent, economic growth tends to be substantially slower. Politicians who favored spending cuts jumped on this result, as you might expect. Paul Ryan, later the vice-presidential running mate of Mitt Romney, mentione... (查看原文)

  浅草 2015-06-06 22:59:08

• It’s easy to grasp why exponential economic growth is not the same as exponential energy growth. If I’m worried about money, I may turn off my heating and wear a coat and hat indoors; a bit of extra money will mean I take off the hat and coat and use more energy. But that doesn’t mean that if I win the lottery I will celebrate by boiling myself alive. (查看原文)

  浅草 2015-06-29 02:48:01

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