Tag: inflation
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Consumerism will not save us
The conventional view of economic growth now being discussed in the news prescribes higher consumer spending as the solution to the current economic recession. The idea is that if people buy more big screen TV’s for Christmas, manufacturers will increase production, hire more workers, raise wages, and we’ll all live happily ever after. As practiced…
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Make-believe economics & business cycles
Economics is not a complicated science. This may not seem obvious to you if you’ve following the news from Washington, where a cabal of politicians, financiers and lobbyists have been spent the last several weeks desperately making a series of increasingly complicated, expensive, and ultimately unsuccessful plans to “save the economy.” As the costs of…