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The HoLee model was the first term structure model. I remember reading their paper soon after it was published and as it was fairly different from many of the other papers that I had read, I had to read it quite a few times. I realized that it was a really important paper. ↗
I was criticized at some level within the Republican Party by those who say government should not be in the economic development business at all. My response is that the only country I know that doesn't have an economic development plan is Papa New Guinea. ↗
#country #criticized #development #economic #economic development
Nothing is more useless in developing a nation's economy than a gun, and nothing blocks the road to social development more than the financial burden of war. War is the arch enemy of national progress and the modern scourge of civilized men. ↗