This is a great, mind-expanding way to frame it.

From a high enough altitude, I see a negative output gap as a technological mismatch. Specifically, potential GDP exceeds actual GDP if and only if the technology of demand cannot keep up with the technology of production.
In Mexico, VW Beetles were called “belly buttons,” because everybody had one.
8
1
Remarkl
Byrne Hobart
·Follow
1 min read·
Apr 28, 2019
--
This is a great, mind-expanding way to frame it.
--
--
Written by Byrne Hobart6.1K Followers
·322 Following
I write about technology (more logos than techne) and economics. Newsletter: https://diff.substack.com/
No responses yet
Help
Status
About
Careers
Press
Blog
Privacy
Terms
Text to speech
Teams