"Most people are in arrested development and cannot use logic." Jacob.
"Competition and capitalism are hated to-day because of their tendency to destroy poverty and privilege." William Hutt
"America is unique in that our economy is totally dependent on global charity." Peter Schiff

Sunday, August 7, 2011

Time Magazine, part two

I promised to rebut the time article, the heart of which is that

1. We need spending
2. The rich don't spend.

Obviously, if we refute 1., we need not bother with 2.

Today being lazy day, I'm going to just provide links:

Making Economic Sense by Murray Rothbard , Chapter 11

Does "Depression Economics" Change the Rules?

Hutt's Crushing Blow to Keynes

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