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Tuesday, June 8, 2010
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I come from a country that is living proof that public indebtedness can do little or nothing to produce growth or welfare. So, when I was an Executive Director of the World Bank and had to discuss the issue of Sustainable Debt Levels (SDL), it was a shock. Just the idea of someone calculating a Sustainable Debt Level with complex formulas was a scary thought. It reminded me of a refined torturer calculating the pain tolerance for mediocre odious credits that might forever tax a country's future.
A BIG difference that should matter.
Private debt: You know who to collect it from.
Public debt: You don’t know who to collect it from.
My Voice and Noise links
About Me
- Per Kurowski
- We are suffering from more and more answers than questions begging for them, and so I work on the latter. Read it all in my one and only book!"Voice and Noise" Pssst... so few have read this book so it is slowly turning into a collector item (I do not say a "cult"... yet) and so you might benefit from getting your very own copy now.