tag:blogger.com,1999:blog-2277215496195926573.post29909083363428215..comments2024-01-01T07:41:51.347-08:00Comments on RALPHONOMICS: Hello professional economists: did you know governments can print money?Ralph Musgravehttp://www.blogger.com/profile/09443857766263185665noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2277215496195926573.post-42513472238449858492013-05-30T00:59:49.096-07:002013-05-30T00:59:49.096-07:00Just to be accurate, those countries had record DE...Just to be accurate, those countries had record DEBTS during the post war years, but not particularly high DEFICITS. They actually paid down their debts during those years which means they must have been running surpluses, or at least relatively small deficits.Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2277215496195926573.post-17360489975586357182013-05-29T14:58:49.484-07:002013-05-29T14:58:49.484-07:00It's also worth pointing out that Germany, the...It's also worth pointing out that Germany, the USA, the UK (and I think, Japan ... need to check on that) ran large deficits in the immediate post-war decades, probably the most prosperous decades in living memory, leading to Japan's "economic miracle", Germany's "Wirtschaftswunder", Britain's "you've never had it so good" (and we hadn't!), and the USA did pretty well also.<br /><br />(Germany also has the largest current deficit (and debt) in the Eurozone, although it is also probably the largest economy in the Eurozone ...but the point is....deficits aren't necessarily bad (although debt isn't particularly good either....).<br /><br />montmorencyhttps://www.blogger.com/profile/12879422255762834319noreply@blogger.com