Having a pandemic doesn't suspend the laws of economics.
I didn't condemn deficit spending. I simply pointed out that the extra money doesn't come for free - you and I are inevitably going to pay the bill.
I didn't condemn deficit spending. I simply pointed out that the extra money doesn't come for free - you and I are inevitably going to pay the bill.
Edit: I should clarify that economics does not have laws in the same way physics does. The ‘law of diminishing returns’, for example, is more of a trend or generalization than an absolute, and is frequently violated in a way that gravity is not.
Economics is also still not a well understood field. There may be government policies with unexpected effects due to that incomplete understanding. We have seen this many times.
Is that an Economics law?
> Economics is not physics
Countries often deny the reality of economics, until their economies crash. Not one has successfully repealed the laws of economics.
Wishful economic thinking never works.
It's almost as if it's fundamentally a law!