Thread by @shrikanth_krish

Random thought

Algebraic equations - Solution is a number or set of numbers

Differential equations - Solution is not a number. But a function / class of functions

Now how does this relate to public policy?

Sometimes policy makers may tend to approach public policy as the quest for "X" - the way you solve an algebraic equation

Finding that silver bullet that works.

Be it a $700B stimulus or a 10% reduction in corporate tax rate

But politicians, unlike technocrats, tend to take the approach more akin to solving differential equations

Unlike policy makers they focus not on specific actions

But on underlying world views
Ideologies

Where you dont find "x" but a set of functions that work

So the quest is not for a single magic proposal, but a way of approaching problems that has an underlying philosophy

E.g. Washington Consensus - which implies

Liberalization of trade
Broad tax base
Inflation targeting
Fiscal discipline
Privatization
Deregulation

etc etc

Similarly "Communism" is another function.

Keynesian counter-cyclical policy is yet another

Austrian Economics ...

One can go on

So the same equation is attempted to be solved not by finding x.

But by offering several F(x) as solutions

However the difference is that in Differential equations, you can conclude that all the "solution" functions fit in as solutions

Whereas in the world of politics, the proponents of each function claim their solution works. And contest the claims of competing functions