Governments throw money down rat holes through inefficient spending; the Italian government provided 110% reimbursement for energy retrofitting, creating perverse incentives for citizens to gold-plate projects and submit inflated bills.

factualpending

Speaker

John Cochrane

Evidence Quote

“the government gave people 110% reimbursement for energy RETROFITTING THEIR HOUSES”

Source

Will Western governments soon hit their debt limits? Prof. John Cochrane— Money & Macro Talks
Created: 8/12/2026, 6:10:20 PM

My Notes

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