Based on a comment I made here.
Bill Woolsey made the observation that: Critics treat nominal GDP as the product of real output and the price level.
We do not live in a barter economy with money add-ons, we live in a thoroughly monetised economy where prices, contracts and debts are set in money terms. I find this thinking that there is a "real" economy that generates monetary "epiphenomena" just bizarre. It is bad metaphysics parading as economics.
(As I discuss in my previous post.)
America leads the world in drug overdose deaths — by a lot
-
Another grim statistic in the opioid epidemic.
America has about 4 percent of the world’s population — but about 27
percent of the world’s drug overdose...
11 minutes ago
No comments:
Post a Comment