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That's when I realized that my hypothesis was precisely wrong.
The second, advocated by the likes of Martin Wolf and Paul Krugman, was the view that this was precisely wrong: the government deficit was the counterpart of excess private sector saving, as households tried to reduce their debts and businesses – knowing that the demand wasn't there – held back from investment.
In a 1984 televised debate between President Ronald Reagan and Walter Mondale, Mondale derided Reagan's leadership, which had been widely criticized as more movie star style than policy making substance, saying "there's a difference between a quarterback and a cheerleader... .. Mondale's suggestion that Reagan should be rejected because he was more the latter than the former was precisely wrong.
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The answers were precisely wrong.
What if we've been precisely wrong?
Throughout, whatever intelligence predicts is precisely wrong.
In this case the mean is precisely wrong.
Of course, this theory happens to be precisely wrong in practice.
But when it comes to the banks themselves, Urofsky's account is precisely wrong.
It is precisely wrong to think that his difficulties are a worry for England.
But if history is any guide, this argument is precisely wrong.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com