Bloggingheads with Matt Yglesias

The topic is The Great Stagnation, find the dialogue here.  My favorite part was when we both discussed why we find David Ricardo an interesting thinker.  One way of summing up TGS is to cite local diminishing returns and yet longer-run increasing returns, though right now we're on the diminishing segment of that curve.  Ricardo got the first part right, and it took the world some number of decades to prove him wrong about the longer run.  TGS is a book set in the traditions of classical economics, which was a lot of the first economics I ever read.


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