Wednesday, February 28, 2018

Brian Romanchuk — The Chimera Of Generational Fairness In Fiscal Policy

Although mainstream economics prides itself on being highly precise and mathematical, this is not apparent when looking at the discussion of fiscal policy. It is very easy to find appeals to intergenerational fairness when discussing fiscal policy. Such a term is essentially meaningless in technical terms; it is mainly used as a ploy to evoke images of doe-eyed grandchildren being robbed by nefarious politicians. This article explains why the concept is largely worthless as an analytical concept....
Bond Economics
The Chimera Of Generational Fairness In Fiscal Policy
Brian Romanchuk

1 comment:

  1. Their using Modified Accrual accounting at CBO/OMB but then evaluating the public financial position using normal Accrual criteria is a big part of the problem here imo... no Accounting competency....