The View From 1776
Sunday, July 20, 2008
Why Economic Pump-Priming by Government Doesn’t Work
As the Mises.org website notes,
There is only one way that leads to an improvement of the standard of living for the wage-earning masses, viz., the increase in the amount of capital invested. All other methods, however popular they may be, are not only futile, but are actually detrimental to the well-being of those they allegedly want to benefit
Read Ludwig von Mises’s essay on Wages, Unemployment, and Inflation.