tag:blogger.com,1999:blog-4491040877840120845.post57049954372638753..comments2024-03-16T17:47:07.792-04:00Comments on Stationary Waves: Debt and Subjective Value PreferenceRP Longhttp://www.blogger.com/profile/15028013805248797978noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4491040877840120845.post-37796892235515383402012-01-07T07:06:03.193-05:002012-01-07T07:06:03.193-05:00If that were true of government debt, then I might...If that were true of government debt, then I might agree. Unfortunately, there is no way for me to "leave" government debt. It's an offer I can't refuse, hence my analogy to the mob. The government engages in deficit finance regardless of my own personal wishes. The "offer" makes me worse off, unless I happen to decide to change my ideology.RP Longhttps://www.blogger.com/profile/15028013805248797978noreply@blogger.comtag:blogger.com,1999:blog-4491040877840120845.post-46942497224214852542012-01-07T01:07:15.386-05:002012-01-07T01:07:15.386-05:00In other words, you've missed the point comple...In other words, you've missed the point completely.<br /><br />If I force you to take a million dollars, can that<br />make you worse off? Sure, because you might feel<br />squeamish about it.<br /><br />But if I offer you a million dollars that you <br />can *take or leave*, you can't be made worse <br />off, because you can always turn it down.Steven E Landsburghttp://www.thebigquestions.com/blognoreply@blogger.com