Aug 20, 2014
- Sacrificing consumption today to increase output tomorrow is one of the main engines of economic growth. Investment in R&D lead to new technologies and investments in capital lead to more capital per worker. The accounting system for measuring may need improvement, but it is hard to believe that allowing firms to borrow money to invest does not have large overall economic benefits. Externalities may now take away up to 10% of the gain relative to a few percent 20 years ago, but at this point it is probably more productive to reduce the externalities than shut off non-green investment completely - Proposal includes statements not backed by well documented facts, as well as typographical errors and errors of usage. Link to sub-proposals appeared subjective, with references to author’s own sub-proposal.