Krugman: a country is not a company
In fact, business leaders often give remarkably bad economic advice, especially in troubled times. And I think it’s important to understand why.
.. The answer, to quote the title of a paper I published many years ago, is thata country is not a company. National economic policy, even in small countries, needs to take into account kinds of feedback that rarely matter in business life. For example, even the biggest corporations sell only a small fraction of what they make to their own workers, whereas even very small countries mostly sell goods and services to themselves.