By Willis Eschenbach – Re-Blogged From WUWT
I take as my subject for this post a claim made over at Forbes Magazine, viz:
I saw that and said “Whaaaa”? My urban legend detector light started flashing bright red at that claim that we’re on the primrose path to the epocalypse.
Me, I always want to go the actual study instead of the media interpretation. In this case, the underlying study is by the IMF, the International Monetary Fund. It uses a most unusual definition of “subsidy”. Normally, subsidies are divided into direct and indirect subsidies.
A direct subsidy is money given to a producer or consumer. It’s actual cash.