Clunker Economics

Posted: August 12, 2009 in Economics

Whether we’re maxing out our credit cards for bailouts, “stimulus,” or for Obamacare, it still has to be paid for.  For a critique of spending-our-way-to-prosperity economics, see:

Favorite quote: “When you stop doing economics and instead wander into mass psychology, anything goes.  In fact, throwing virgins into a volcano might boost GDP, depending on what the public believes.” — Robert P. Murphy

See also Doug French’s discussion of the harmful effects of inflationist policies:



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