http://www.thefreemanonline.org/anything-peaceful/save-us-from-government-spending/ Ideas on Liberty Wed, 15 Feb 2012 04:40:14 +0000 hourly 1 http://wordpress.org/?v=3.3 http://www.thefreemanonline.org/anything-peaceful/save-us-from-government-spending/comment-page-1/#comment-21433 Sheldon Richman Fri, 14 Nov 2008 17:45:08 +0000 http://www.feeblog.org/?p=119#comment-21433 Thanks, Glenn. There would be no need to stem inflation if the central bank did not create it in the first place. I see no value in tax increases during upturns. Why should people have their money taken from them to counter the effects of the government's monetary policy? Let the government cut spending instead. If Keynesians have given up the idea of such tax increases, then I would count that as an improvement. Thanks, Glenn. There would be no need to stem inflation if the central bank did not create it in the first place. I see no value in tax increases during upturns. Why should people have their money taken from them to counter the effects of the government’s monetary policy? Let the government cut spending instead. If Keynesians have given up the idea of such tax increases, then I would count that as an improvement.

]]> http://www.thefreemanonline.org/anything-peaceful/save-us-from-government-spending/comment-page-1/#comment-21432 Glenn Jacobs Fri, 14 Nov 2008 16:08:17 +0000 http://www.feeblog.org/?p=119#comment-21432 Great article as usual Sheldon!!Contemporary economists and politicians have outdone Keynes, advocating a perpetual bubble economy driven by monetary inflation and government spending. Not that I am defending his flawed theories, but even Keynes realized that this was unsustainable. In order to stem inflation, Keynes advocated tax hikes during economic upturns to sop up excess liquidity; something that never actually happens. Leaving aside the fact that taxes are collected through coercion and that it is monetary inflation which causes the business cycle, it seems that the economics that is now in vogue is even worse than Keynesianism-- a sort of sinister blend of all bad economic thought. Great article as usual Sheldon!!Contemporary economists and politicians have outdone Keynes, advocating a perpetual bubble economy driven by monetary inflation and government spending. Not that I am defending his flawed theories, but even Keynes realized that this was unsustainable. In order to stem inflation, Keynes advocated tax hikes during economic upturns to sop up excess liquidity; something that never actually happens. Leaving aside the fact that taxes are collected through coercion and that it is monetary inflation which causes the business cycle, it seems that the economics that is now in vogue is even worse than Keynesianism– a sort of sinister blend of all bad economic thought.

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