Have government deficits “saved the world?”
Foundation for Economic Education
by William Anderson
07/22/09
Last week, I wrote about the crudeness of so-called Keynesian economic theory in which one assumes that all assets and capital ‘investment’ are ‘homogeneous’ in character, which means that their only contribution to the economy is from the money that is spent in their creation and continued operation. This view contrasts with the Austrian paradigm, which emphasizes the structure of production within an economy and the unsustainability of capital that is malinvested during a boom. Unfortunately, too many people in high places are prone to believe what on its face is unbelievable: running huge federal deficits somehow is a good thing for the economy...
http://tinyurl.com/nw9gmj
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=government+deficit
http://freepage.twoday.net/search?q=Keynes
http://freepage.twoday.net/search?q=William+Anderson
by William Anderson
07/22/09
Last week, I wrote about the crudeness of so-called Keynesian economic theory in which one assumes that all assets and capital ‘investment’ are ‘homogeneous’ in character, which means that their only contribution to the economy is from the money that is spent in their creation and continued operation. This view contrasts with the Austrian paradigm, which emphasizes the structure of production within an economy and the unsustainability of capital that is malinvested during a boom. Unfortunately, too many people in high places are prone to believe what on its face is unbelievable: running huge federal deficits somehow is a good thing for the economy...
http://tinyurl.com/nw9gmj
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=government+deficit
http://freepage.twoday.net/search?q=Keynes
http://freepage.twoday.net/search?q=William+Anderson
rudkla - 23. Jul, 09:35
