[FoRK] Time Asymmetry of Government: Terminal Stage Approaching

Chris 2nerds.com at gmail.com
Fri May 28 20:57:08 PDT 2010


On Fri, May 28, 2010 at 9:09 AM, Jim Whitehead <ejw at cs.ucsc.edu> wrote:

> I used GDP as a proxy for "society's income" and government spending as a
> proxy for "capturing share".
>
> Where does this reasoning break down?
>

As I understand it, GDP includes government spending, a growing fraction of
which is borrowed.

If I apply your "GDP as income" standard to my personal finances, then I can
increase both my spending and my "income" by maxing-out all of my credit
cards.  That doesn't sound like a financial strategy with a long horizon,
whether undertaken my me or by a national government.

Chris


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