Palaeontology drives a lot of fossil fuel discovery. Perhaps not so important over the next 100 years, but I believe it was pretty significant over the last 100 years.
With regard to economics, deflation seems bad. Really bad. I (think) I get your point. I think you’re expecting physics results from economics. Econ usually says weak things in a limited context, like weather.
Yes. Debt matters. I would be happier with less of it. But in our current context, for a little while, it’s not that important. It’s a fire 300 miles away. The fire could be a really big personal problem surprisingly quickly, but today the biggest worry is housing and feeding the refugees. It’s a strained analogy. Hopefully it gets the point across.
With regard to economics, deflation seems bad. Really bad. I (think) I get your point. I think you’re expecting physics results from economics. Econ usually says weak things in a limited context, like weather.
Yes. Debt matters. I would be happier with less of it. But in our current context, for a little while, it’s not that important. It’s a fire 300 miles away. The fire could be a really big personal problem surprisingly quickly, but today the biggest worry is housing and feeding the refugees. It’s a strained analogy. Hopefully it gets the point across.