Random thoughts mostly (and indication I’ve got too much free time on my hands 🤷). This isn’t one of those high cadence blogs and it will probably get weirder over time.


The Model Habituation Problem

Economists love to talk about government deficit spending as “borrowing money from the future.” It’s a neat mental model that helps explain fiscal policy: we take on debt today to fund infrastructure, social programs, or whatever, and future taxpayers will pay it back. The model implies a simple trade-off between present and future consumption, mediated by interest rates and growth projections.

There’s just one problem: you can’t actually borrow steel from the future.

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