"And you want to talk about a negative productivity shock, too. The biggest positive productivity shock we’ve had over the last 40 years has been globalization together with technology. And I think if you take away the globalization, you probably take away some of the technology. So that affects not just trade, but movements and … Continue reading Harvard’s Reinhart and Rogoff Say This Time Really Is Different
Tag: finance
Knowledge of the Future
"...there are (a) facts, (b) informed extrapolations from analogies to other viruses and (c) opinion or speculation....if you’re experiencing something that has never been seen before, you simply can’t say you know how it’ll turn out....There’s no algorithm for deciding whether to favor life for a few (or for thousands) versus economic improvement for millions."-Howard … Continue reading Knowledge of the Future
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