Over the weekend, there was a kerfuffle about whether Keynesian economics ignores the long-run implications of its policies.
While customers may benefit in the short term as these combatants beat one another into the ground, the long-run implications may be bleaker.
Technology continues to advance; resource shortages are not severe enough to pose a major constraint; climate change is terrifying in its long-run implications, but hasn't inflicted much damage yet.
At the end of this subsection, we discuss the long-run implications of the labor market reforms and have a look at the spillovers to the rest of EMU.
As pointed out in the previous section, wage subsidies entail huge indirect effects, especially deadweight, substitution and displacement, making them cost-ineffective and undesirable due to their long-run implications on skills development67.
"After their first shock of amazement at Carnegie-Illinois Steel's recognition of the CIO's Steel Workers Organizing Committee, businessmen settled back to figure out what its long-run implications for industrial relations might be.
But those who care about the democratic process, which includes many same-sex marriage supporters, should be concerned about the ruling's long-run implications.
More interesting, perhaps, is the long-run implication that Virginia may no longer be a battleground state in presidential elections.
In the long run, the implications for President Goodluck Jonathan's government are huge.
Even if you ignore the cyclical part of that trend, U.S. growth is likely to remain higher, and in the long run that has implications for earnings growth".
I will concede this upfront, even though the definitions of "long run" have very important implications.
