Simple thinking of economists in the olden era

Quoted by Nick Rowe:

Samuelson 1958. 'If the rate of interest on government bonds is forever less than the growth rate of the economy, the government can run a sustainable Ponzi finance of deficits, where it rolls over the debt plus interest forever and never needs to increase taxes, so there is no burden on future generations.'

We know that a government Ponzi sceme delivers increasingly accurate knowledge about the government's next debt transaction. Hence, actors will adjust their sequences of actions to redistribute that knowledge out into the economy. This is the maximum entropy process. At some time the variance in growth and the variance in government borrowings will equalize; entropy is maximized and the ponzi stops.