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Economics correspondent for The Economist
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@EconTalker @Matthew_C_Klein @COdendahl And you don't give money away, because you, individually, can't solve the coordination problem.
@EconTalker @Matthew_C_Klein @COdendahl C'mon guys. This is a cyclical argument about very specific circumstances. Not socialism forever.
@Matthew_C_Klein Higher effective demand, higher real output, x gets smaller share of bigger pie.
@dlknowles Wait, am I the experienced hack in that tweet?
@Matthew_C_Klein It need not, no.
@Matthew_C_Klein It's possible that taking $ from x and giving it to y, by raising demand, leaves some better off and no one worse off.
@Matthew_C_Klein Relative to the sub-optimal policy case. I'm saying we are missing a pareto improvement you argue isn't there.
@dlknowles Wait, no one told you about the layoffs? So this is awkward...
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