TLH - Sustainable Government Debt - An Old Idea Refreshed
The Peterson Institute has long been one of my favorite sources of original research in the field of economics. They generally support free-market ideas, although they are less than classically liberal in their approach. I was, nonetheless, surprised by the Presidential Lecture given at the annual gathering of the American Economic Association ((AEA)) by Olivier Blanchard, ex-IMF Chief Economist, now at the Peterson Institute - Public Debt and Low Interest Rates. The title is quite anodyne, the content may come to be regarded as incendiary. Here is part of his introduction: -
Since 1980,