Saturday, January 30, 2010

Quote of the week

Another one from my macro professor. I think the material is really boring, but he says some funny things every now and then.

On why Ricardian Equivalence (the concept that the timing of taxes does not impact consumer choices i.e. it doesn't matter if you finance government spending with taxes today or taxes tomorrow) might fail in the real world:

"People could be retards...sorry I'm not supposed to say that."

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