Government spending enables some people to acquire what they have not earned, deceives other people into thinking they can afford to buy what they don’t really need, and stimulates people to work at making things that people have not earned or don’t need.
One thought on “One-Sentence Memo on “Stimulus” Spending”
I am very grateful to Ron for this simple, clear, and essentialized statement that explains the folly of the entire “stimulus” approach to solving our economic problems.
In this age of complexity worship, I appreciate so much such a clear statement in simple terms that explains so much. If only there were enough minds left who could understand the depth and the truth of this statement, I would have some hope that this great land of ours might yet save itself. Alas, that seems not to be.
This statement reminded me that as we head for the abyss, at least I can learn from, admire, and enjoy a mind so clear.
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