The View From 1776
Thursday, February 26, 2009
Stimulus Package Analogy
George Reisman explains that economic stimulus programs administered to an out-of-balance economy are analogous to giving additional doses of a chemical stimulant to a sleep-deprived person who needs, instead, rest and recovery.
With regard to the nature of true savings vs consumption, see Savings?, an article that I posted April 05, 2007.