Absolutely. War debt is a great example. Without it, we simply couldn't have paid for any of our major wars, and it took decades to pay off. It wasn't even productive investment (wars are e… (View Post)

There is a far more fundamental principle - people respond to incentives. The top rate of tax is only one of those incentives. (View Post)

How go you know they are even curves ? What's the formula that defines even one of them ? To define a curve of unknown type, you need far more data for a particular economy at a particular time … (View Post)

Yes, that's both foolhardy and disturbing. While it's rather more of a market than the water utilities, some of the same issues apply. https://www.energyoasis.org.uk/blog/uk-energy-ownership (View Post)

. Probably just as well it didn't feature Memnon. (View Post)