Thursday, April 02, 2009

Fiscal Stimulus and Family Metaphors

A quickie before I hit the hay, something I noticed on Baseline Scenario. Now, as we know many people when talking about Gordon Brown's irresponsible debt make the comparison to a household budget and talk about our children and grandchildren inheriting the debt. To quote Thatcher:
Any woman who understands the problems of running a home will be nearer to
understanding the problems of running a country.

Anyway, I've found a far better household budget methaphor, courtesy of an excellent article by Nancy Folbre in the New York Times and I wanted to share it:
Think of the United States economy as a family farm in need of modernization.
Energy prices are going up, but all the tractors are gas guzzlers. Some of our
fields have accumulated toxic levels of pesticide, and we need to develop new
and better technologies of sustainable production. Our grandchildren want to run
the farm, but will need good health and a college education to do it well.
The legacy we leave to future generations, it should be thought of in far broader terms than simply money a sustainable future is worth far more than a few quid in the bank.

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