Commentaries (some of them cheeky or provocative) on economic topics by Ralph Musgrave. This site is dedicated to Abba Lerner. I disagree with several claims made by Lerner, and made by his intellectual descendants, that is advocates of Modern Monetary Theory (MMT). But I regard MMT on balance as being a breath of fresh air for economics.
Saturday, 27 July 2013
Bridges to nowhere.
I knew Japan built bridges to nowhere, but I didn’t know it was so
many. Light blue columns are infrastructure needed. Dark blue is actual amount spent on infrastructure. Compare the right hand pair of columns (Japan) to the other pairs.