Big Questions

Multi-perspective walkthroughs of contested questions

We start with the dispute, work through the formal apparatus, end with a positioned answer. Each Big Question runs in stages — pick where you enter.

Economics

10 walkthroughs · 3 clusters

Macro & Policy

政府支出有助于经济吗?

A viral TikTok says the government can just print money. A Nobel laureate says that’s insane. The multiplier, crowding out, and the zero lower bound give three different answers.

Why can’t we just print money?
“A government that issues its own currency can never run out of money. It can never be forced to default.”
— Stephanie Kelton
Was $787 billion not enough?
“I and others warned from the beginning that the plan was too small.”
— Paul Krugman, The New York Times

中央银行能控制经济吗?

The Fed moves one interest rate and the world follows — until it doesn’t. What happens when the most powerful institution in economics hits its limits?

Is the Fed really in control?
“The Fed controls a single short-term interest rate. Can one lever really steer a $25 trillion economy?”
— common critique
Was the euro a mistake?
“One monetary policy for Germany and Greece. What could go wrong?”
— eurozone critique

什么导致了经济衰退?

Economists have studied recessions for a century and still can’t agree on what causes them — let alone how to stop them.

Are recessions actually efficient?
“Real Business Cycle theory says recessions are optimal responses to technology shocks. Most people find this... counterintuitive.”
— RBC critique
Did the mainstream fail in 2008?
“The models didn’t have a financial sector. The biggest financial crisis in 80 years wasn’t in the model.”
— post-crisis critique

货币到底是什么?

You use it every day. Economists have argued about what it actually is for three centuries. Bitcoin just made it worse.

Is Bitcoin money?
“Bitcoin isn’t money — it’s digital tulips.”
— Peter Schiff on Joe Rogan
Is the dollar’s reign ending?
“The dollar backs 60% of global reserves. China and the BRICS want to change that. Can they?”
— de-dollarization debate

Trade, Development & Inequality

为什么有些国家富有,有些国家贫穷?

Norway is 80x richer than Niger. Capital? Ideas? Institutions? Geography? The biggest question in economics has no consensus.

Aid is actively destructive
“Aid has been, and continues to be, an unmitigated political, economic, and humanitarian disaster for most parts of the developing world.”
— Dambisa Moyo, Dead Aid
Does China break the story?
“No country in history has lifted more people out of poverty faster. But was it markets, or was it the state?”
— China development debate

自由贸易总是好的吗?

Comparative advantage promises everyone wins. Tell that to the 2.4 million workers who lost their jobs to the China shock.

Did China kill American jobs?
“Between 1999 and 2011, the China shock destroyed 2.4 million American jobs. Comparative advantage promised everyone would win.”
— Autor, Dorn & Hanson
Trade wars are easy to win
“Trade wars are good, and easy to win.”
— Donald Trump, 2018

不平等是经济学能解决的问题吗?

Every policy debate comes back to this: can you help the poor without hurting the economy? The answer depends entirely on who you ask.

Should billionaires exist?
“Every billionaire is a policy failure.”
— Rep. Alexandria Ocasio-Cortez
Just give people money?
“Universal basic income: the idea that left and right both love and hate, for completely different reasons.”
— UBI debate

More topics will appear here when their walkthroughs ship. As topics multiply, the page becomes a hierarchy: topic → cluster → question.