To claim that government cannot spend resources that it doesn't first acquire from the private sector is hardly bizarre. To claim that taking resources from the private sector reduces demands in those industries from which the resources are taken is hardly bizarre. To claim that any economic activity stimulated by increased government spending is offset by economic activity elsewhere slowed by government's need to get the resources it spends is hardly bizarre. Again, such claims might be mistaken -- but what about such claims is so ludicrous as to advertise persons who make them "ethics-free Republican hacks"?
Tuesday, January 13, 2009
More wise words on the fiscal stimulus
This time from GMU economist Don Boudreaux at Cafe Hayek:
Posted by second-tier at 7:30 AM