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Pastimes : Austrian Economics, a lens on everyday reality

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From: TimF5/28/2013 2:03:39 PM
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Tim Worstall writes:

It's also possible to take a more basic view of this. The Keynesian prescription is that in order to solve a recession we should allow George Osborne (or Gordon Brown, Obama, Ralph Nader, whoever it is who actually happens to hold the purse strings in your economy) to spend more of our money.

Having met two of those four this just doesn't strike me as a valid answer to any question at all, let alone how to escape a recession.

Yes, this is indeed simple prejudice. But prejudices, just like cliches, exist often enough because they contain an essence, a truth.

econlog.econlib.org

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