Tortoise Economy
Categories: Econ
It's plunking along, eating bugs and grass. Hares are whizzing by, laughing.
A tortoise economy is the slow and steady flavor, presumably winning the race. Would you, if you were a country, rather grow at 2.7%, plus or minus 0.2% every year, year after year, for 40 years? Or would you be okay growing some years at 7 or 8% and then contracting other years at 3 or 4 percent?
Yeah...volatile. Does that fit your country's culture? In practice, countries can't really control their economies all that much. They can do small-ish things in tweaking interest rates or liquidity. But that's a tweak, not a wrestling match. So when you do find a tortoise economy, buckle up and hold on for a long, boring ride.
