this post was submitted on 22 Nov 2024
209 points (100.0% liked)
memes
23355 readers
176 users here now
dank memes
Rules:
-
All posts must be memes and follow a general meme setup.
-
No unedited webcomics.
-
Someone saying something funny or cringe on twitter/tumblr/reddit/etc. is not a meme. Post that stuff in /c/slop
-
Va*sh posting is haram and will be removed.
-
Follow the code of conduct.
-
Tag OC at the end of your title and we'll probably pin it for a while if we see it.
-
Recent reposts might be removed.
-
No anti-natalism memes. See: Eco-fascism Primer
founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
There's also this massive 2010 paper called "Growth in a Time of Debt" that was used by the EU to justify austerity measures in Greece and elsewhere. The paper claimed that countries with debt ratios above 90 per cent of GDP suffer a yearly 0.1 per cent contraction in their economies, so therefore you have to reduce debt ratios to below 90% so GDP can grow again. Was cited everywhere, a massive impact on the real world, one of the pillars of austerity.
Turns out this is completely wrong because their sum in Excel was "accidentally" missing a few countries and instead when they corrected that Excel issue turns out "that countries with the quoted debt ratio grew 2.2 per cent, only 1 per cent less than nations with lower debt ratios."
Per: https://voxeurop.eu/en/austerity-measures-in-europe-are-due-to-an-excel-error/
Yeah that was the one I was thinking of, just didn’t remember all the details correctly.