Why national accounts might be like corporate balance-sheets
A new paper argues that fiat money is like equity
THE easiest way to get an economist to laugh sardonically is to compare a country’s finances to those of a family. It is both simplistic and wrong, they will argue, for politicians to say that a country “must live within its means”.
This article appeared in the Finance & economics section of the print edition under the headline “Money for nothing”
Finance & economics August 5th 2017
From the August 5th 2017 edition
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An American sovereign-wealth fund is a risky idea
Donald Trump’s latest proposal has worryingly broad support
Can bonds keep beating stocks?
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Why orange juice has never been more expensive
Pity those who rely on the breakfast staple