Conversation

Hmmm.... another row about the use (and misses) of the household metaphor for Govt. borrowing - yup, Laure K has used the credit card simile & people (well, economists) are (rightly) unhappy about it.

I spent years teaching under-graduates to ignore such fallacious statements, but no-one until recently has really had a go at stopping it in the media.

Perhaps we will finally see some proper discussion of fiscal political economy.... here's hoping

#economics

https://www.theguardian.com/business/article/2024/jun/13/why-government-debt-is-not-like-household-borrowing