suyts space

image

It’s been announced that in the most recent quarter, the US has seen an economic contraction. 

Since the global economic crisis has ensued, Keynesian theory has been embraced and enhanced to deal with the crisis. 

For those not familiar, much of it can be easily expressed in this manner…..  the government hires a person to dig a hole and then hires another to fill it back up.  This would put capital in people’s hands and stimulate and spur economic growth.  What is really sad about all of this is that even before that theory was formalize, it was already addressed by Bastiat in his parable of the broken window…….

Bastiat’s original parable of the broken window from Ce qu’on voit et ce qu’on ne voit pas (1850):

Have you ever witnessed the anger of the good shopkeeper, James Goodfellow, when his careless son has happened to break a pane of…

View original post 793 more words

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s