Stephen Kinsella on Economics
Faced with a massive accumulated deficit in housing, health and education, the only tools we have available to us are fiscal policy and luck. We know from the past that luck eventually runs out.
The patient seems fine. But is she?
When looking to understand an economy like Ireland’s, you have to think a bit like a doctor and not a physicist. Doctors don’t look at single numbers or search for precision, nor can they run experiments on people. Doctors look at many measures, all flawed in some way, but which collectively tell a story. They don’t get precision, but they get a sense of magnitude and direction. Also,...
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