Economics: the study of income vs balance sheets expenditures of time. if you don’t measure capital, in particular institutional capital, then you will fool yourself that spending down accumulating savings of the past two thousand years is income.
Source date (UTC): 2020-11-11 20:29:56 UTC
Original post: https://twitter.com/i/web/status/1326623216656404481
Reply addressees: @BrookingsInst
Replying to: https://twitter.com/i/web/status/1326305896742445056
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