> high economic growth is largely caused by low government spending
not true...anybody with such simplistic economic opinions should really just do an 101 on economics
leaving your country? to go where? and once your there, what are you gonna do?
not true...anybody with such simplistic economic opinions should really just do an 101 on economics
leaving your country? to go where? and once your there, what are you gonna do?
Omitted Variable Bias: Conflates development stage with state size. Developing nations have small governments and high catch-up growth; mature economies have large safety nets and slower frontier growth.
Bad Extrapolation: The power-law model predicts ~36% growth at 0% spending. In reality, 0% spending means a failed state with no property rights or rule of law.
Lacks Basic Controls: Ignores panel fixed effects, reverse causality (Wagner's Law), and bundles productive infrastructure with welfare transfers.
People on HN are really something.