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AudienceRemote5915 t1_j1zrb2q wrote

How does standard Economics model the economies of authoritarian nations, like Russia, Iran and China, or nations in war like the Ukraine? Are those models useful?

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banqueiro_anarquista t1_j1zx62y wrote

You don't have to be an authoritarian nation to have large discretionary expenditure. Take for example the immense US expenditure in the military industrial complex. None of it is subject to market forces, yet macroeconomic modelling still captures it.

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