Comment of the day
In economics signalling is a means of gaining credibility between buyers and sellers and sacrifice is merely one of many ways to send a signal.
Friedman and Mahbubani understand that economic recovery must begin with economic signals like sacrifice designed to restore confidence before a turnaround can begin.
For example one powerful signal to jump start austerity debt reduction is for the very sick to commit sacrificial suicide through voluntary death panels rather than bleed dry the oppressive health care expense necessary to sustain them.
The proactive use of voluntary suicide by less valuable members of society will prevent crowding out of more valuable members the same way competition drives resources to their highest valued use when all resources are employed, so it's an efficient outcome.
Be a Sacrificial Signal Lamb today and save your country. Either impale yourself on the AltAtriosar of Austerity so others can live or at least take out a freeloader in your place.
Can't really add anything to that.
NOTE Hat tip Atrios for the link to CEPR, but the comments are better than the post.