over the last 35 years public spending in advanced economies has barely dipped below 40% of GDP so the effectively de-politicized economic policy is an overstatement. Same goes for regulatory burden that subtracts to economic growth and disincentive to invest when we all know that technology is a major driver to productivity and growth. the rest of the analysis is spot on, though it doesn't mention the financial repression (negative real yields) we have already seen and we will keep seeing over time (70s style, Japan style)
over the last 35 years public spending in advanced economies has barely dipped below 40% of GDP so the effectively de-politicized economic policy is an overstatement. Same goes for regulatory burden that subtracts to economic growth and disincentive to invest when we all know that technology is a major driver to productivity and growth. the rest of the analysis is spot on, though it doesn't mention the financial repression (negative real yields) we have already seen and we will keep seeing over time (70s style, Japan style)