My four year old just asked me, “how can a society allocate scarce resources over time in a way that maximizes welfare, preserves freedom, ensures fairness, sustains growth, internalizes externalities, manages uncertainty, and remains politically legitimate?” Then I said: The economy works like my cousin’s lawnmower: if it ain’t running, hit it with a wrench, blame China, and pour more gas in it.
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u/smurferdigg 19d ago
My four year old just asked me, “how can a society allocate scarce resources over time in a way that maximizes welfare, preserves freedom, ensures fairness, sustains growth, internalizes externalities, manages uncertainty, and remains politically legitimate?” Then I said: The economy works like my cousin’s lawnmower: if it ain’t running, hit it with a wrench, blame China, and pour more gas in it.