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‘Fungibility’ means there’s no free lunch

MAY 28, 2019 | by Dan Walters | CALMATTERS

Let’s talk about “fungibility” – the economic concept that one unit of a commodity may be interchangeable with another. That’s true if the commodity involved is something like a bushel of corn or a barrel of crude oil. But in politics, the commodity is money and fungibility means that a dollar is a dollar and if it’s spent on one thing, it’s not available for another thing, no matter how it may be spun to the public.

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