Our take: Laurence Kotlikoff, professor of economics at Boston University, takes issue with how some academic economists have weighed in on the current presidential race. In doing so, he makes some astute economic arguments about how current policies affect national savings and investment:
If you take money from the young and tell them they will get it back in spades when old, and then give this money to retirees, the following will, as a matter of theory and practice, happen: The elderly will go shopping, the young won't bother saving, national consumption will rise, and domestic investment will fall.
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