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re: What's 38 trillion dollars? She Guverra calls it an "externality"
Posted on 9/18/18 at 7:39 pm to foshizzle
Posted on 9/18/18 at 7:39 pm to foshizzle
quote:
The term "externality" has a precise definition in economics and she used it correctly, believe it or not.
38 trillion is not an externality as we live in a representative republic. Hence the voters actions are represented by their elected officals....and therefore goverment spending is NOT an externality
1
Posted on 9/18/18 at 7:47 pm to CptBengal
quote:
38 trillion is not an externality as we live in a representative republic. Hence the voters actions are represented by their elected officals....and therefore goverment spending is NOT an externality
as we live in a representative republic, there would be a significant portion of representatives that do not chose to incur such costs. This makes it an externality. The term is correct, but that doesn't mean her argument is intelligent.
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