Tag Archives | consumption

Jean-Baptiste_Say_by_Achille_Devéria

Keynesianism is Against the Law, Say’s Law

As the recession continues, economists like Laura D’Andrea Tyson, the Chair of the Council of Economic Advisors under President Clinton, advocates spending as the pathway out of our economic banana. In her latest post on the New York Times economics blog, Tyson tells us that in order for the economy to recover we need an…
Continue Reading 3
Bridge to Nowhere

Bridge to Nowhere

Krugman makes his latest argument with nothing but a few words and a lonely chart which shows the recent drop-off in government infrastructure “investment.” Contrary to Krugman’s worldview in which “full employment” is the only feasible economic ideal, employment is only “good” when it occurs voluntarily under market processes.  Why?  Because working for working’s sake…
Continue Reading 2
UA-32859158-1