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Tag Archives: expenditures

Infrastructure All the Way Down

I have argued on this blog that the best practical definition of infrastructure is “whatever the government wants to pay for because it benefits from the expenditure.” The adoption by the House of a $1-trillion bipartisan infrastructure bill reinforces this argument. (See Gabriel T. Rubin and Eliza Collins, “What’s in the Bipartisan Infrastructure Bill? From Amtrak to Roads to Water Systems,” Wall Street Journal, November 6, 2021.) The standard argument for public...

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Government Expenditures in GDP

When three economists meet to eat seafood on the Maine coast, chances are that they will talk about economics, or—what is the same—use economic theory to discuss topics ranging from religion and sex (why are some religions more anti-sex than others?) to the inclusion of government expenditures (on goods and services) in GDP. This is naturally what happened when, yesterday, I met Germain Belzile (HEC-Montréal and Montréal Economic Institute) and Vincent Geloso (who is...

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