Episode 173: Understanding the Perfect Storm
Words & Numbers
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Introduction
Last week's SpaceX launched. This is the first private crude spaceflight ever. It called to mind a piece of research I had done several years ago in which I asked the question what is the relationship between government spending and economic growth? And I found two very different answers. One for developed countries that said that the optimal government spending, if you want to maximize economic growth, is some number circa plus or minus around 20%. But then for developing countries, it was something much larger.
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