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Runtime: 24min.
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Re: The Economics of Good and Evil - July 1, 2011 (24min.)
It is a cute idea, but completely unrealistic as the assumption being made is that the powers that be want to give up power.
It is rare indeed that anyone wants to give up power, there are literally a handful of examples - most of which are probably apocryphal.
For that matter, even if it were magically implemented in some way, what exactly would be the 'official' number by which savings and/or deficit spending is to be controlled?
He does make a good point about limitations on government money printing vs. lack of limitations on government's ability to borrow, but again this impact is greatly reduced because of the failure to explain the tight links between FIRE and government as well as between FIRE and central banks.
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