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Wednesday, June 16, 2010

The Daily Socialist - 6/16/10

Does Unlimited Government Spending Bring Prosperity?

Opportunity costs, to which the writer refers, are the opportunities foregone when one chooses to spend limited resources on certain things and not on others.  Austrian economists recognize that not all consumers want the same things.  Keynesians favor government regulations, subsidies, and taxes nudging consumers toward things, like “green” autos and ethanol that relatively few people would buy of their own free will.

Posted by Thomas E. Brewton on 06/16 at 11:52 PM
Economics • (1) Comments
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