Sunday, December 18, 2016

Nick Rowe has subtle humor

Nick: "IRS" stands for "Increasing Returns to Scale". It means if you double all the inputs, you more than double the output.
I first worried that US readers might think "IRS" stands for Internal Revenue Service (the US tax people). Then I realised that I want it to stand for that too.

Not bad, and it gets through the central bank Overton window  Get fired,. Nick, and your window widens considerably.

No comments: