Posts Tagged ‘nowy-marx’

Eggheads’ Cracked Reasoning

All the good Joshua Rauh and Robert Novy-Marx have done in spotlighting the real unfunded liabilities public pension systems are accruing (albeit through a fallacious riskless rate theory) could be undone as the two professors, in a recent book of essays edited by Aaron S. Edlin and Joseph E. Stiglitz, offer their solution – more debt and a Defined Contribution Plan for future employees – that would be even more disastrous if taken seriously.

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