There are few economists who have been warning about the unsustainable economic situation in Spain. The growth of public debt, low productivity and wages that do not reflect the cost of life are some of the recurring concerns. In this context, another difficulty that should not be overlooked is the country’s ability to attract talent to key positions. One of the last to pronounce on this issue has been Jesús Fernández-Villaverde, Professor of Economics at the University of Pennsylvania and member of the nber and the CEPR. In a couple of messages, rescued by the user of X @jononzlz, Fernández-Villaverde explains why I would never accept to be Minister of Finance in Spain and highlight how absurd High responsibility such as that of a minister. Related NOTICE ADJUSTMENT OF ACCOUNT OPINION If the mediocrity of GDP John Müller Sánchez presumes an indicator that is actually mediocre: Spain could have done much better to start, the economist argues that, on a personal level, the Salary of a Minister of Finance in Spain would make the position accept. According to his calculations, the annual gross salary of a Spanish minister in 2024 is 79,415.16 euros, which, once discounted taxes, would not even allow him to pay the real estate tax of his house in Haverford, Pennsylvania. The economist He warns that Spain is, in economic terms, much poorer than its citizens believe. He emphasizes that, in the United States, he pays $ 85,000 to his postdoctoral students of 28 years (more than the salary of a Spanish minister), who also enjoy a lower tax charge and health insurance that, in his opinion, It is better than the Madrid health system. “It would take unpopular measures” Fernández-Villaverde adds two more reasons why he would refuse to be Minister of Finance. The first is realism: any measure that he would consider necessary to improve the economy of the country would cost him the position of days, since he would imply unpopular decisions. Related news opinion If you adjust the mediocrity of the GDP John Müller Opinion if Deepseek or the untened effects of the sanctions John Müllerla Second is pragmatism: consider that to occupy a position of that responsibility not only technical knowledge is necessary, but also skills of management, and admits not to be a particularly good manager.
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