All Posts Tagged With: "savings"
Does Saving Reduce GDP?
Warren C. Gibson’s article, “GDP: Who Needs It?” in the May 2010 edition of the Freeman, asserts an inconsistency. He correctly denigrates the Keynesian notion of promoting consumption spending as a means of promoting GDP growth: “The predominance of consumption seems to have spawned the bizarre notion that if we can only get consumer spending [...]
24Nov2010 | and James C. W. Ahiakpor | 2 comments | ContinuedPaying the Unemployed Does Not Stimulate an Economy
Many in Congress as well as the President and some of his economic advisers have argued that extending the period for paying the unemployed will stimulate the U.S. economy out of its sluggish performance. Would any of them consider as valid an argument that giving money out of their own pockets to an unemployed member [...]
24Nov2010 | James C. W. Ahiakpor | 17 comments | ContinuedKeynes’s Ghost
The multiplier argument is founded on two key assumptions that turn out to be false. First is the notion that savings are not spent but rather are withdrawn from the expenditure stream. The multiplier’s second incorrect premise is that government expenditures are “autonomous”; that is, government spending does not depend on current income.
9Jun2009 | James C. W. Ahiakpor | 5 comments | Continued"If We Had No Social Security, Many People Would Go Hungry"
Compulsory Social Security has been the law of the land for almost three generations, and many citizens of the United States are now convinced that they couldn’t get along without it. To express doubts about the propriety of the program is to invite the question: “Would you let them starve?” Many Americans are old enough [...]
1Sep2005 | Paul L. Poirot | 2 comments | ContinuedThe Return of the Keynesians
The Keynesians are back. After laying low in recent years, they are promoting their interventionist plans once again. Take Joseph Stiglitz, for example. He apparently waited until he gained the credibility of sharing the Nobel Prize in Economics in 2001 to become an unabashed cheerleader for Keynesian economics. Such a universally recognized accolade allowed him [...]
1Mar2003 | Christopher Lingle | 2 comments | ContinuedThe Savings Crisis
John Hood is president of the John Locke Foundation, a non-profit think tank based in Raleigh, North Carolina, and the author of The Heroic Enterprise: Business and the Common Good (The Free Press). It’s a constant refrain among politicians and the news media: America has a low savings rate. This, it is said, has dire [...]
1Mar1999 | John Hood | 0 comments | ContinuedWhy Wages Rise: 7. Contracting For Progress
Dr. Harper is a member of the staff of the Foundation for Economic Education. Money, the lubricant for exchange, was discussed in the previous article in this series. Money makes widespread trade possible. Without it our present high level of wages could hardly have come to be. Yet, serious inflation and deflation can cause [...]
1Sep1956 | F. A. Harper | 0 comments | ContinuedWhy Wages Rise: 3. Dividing The Pie
Dr. Harper is a member of the staff of the Foundation ]or Economic Education. Real wages in the United States are about five times as high as they were a century ago. The first in this series of articles showed that this rise apparently is not, as commonly believed, due to the growth of labor [...]
1May1956 | F. A. Harper | 1 comment | Continued-
The Latest
Contraception: Insuring the Uninsurable
Update below. Controversy rages over the Obama administration’s mandate that all employers – including... Read More
The Snow Plowers’ Petition
The following might have happened in a small college town in upstate New York… In a cold and snowy... Read More
Super Bowl versus Education?
In the spirit of Super Bowl weekend I’d like to deconstruct a Facebook status update that a friend... Read More
Capitalism, Corporatism, and the Freed Market
When a front-running presidential contender tells the country that thanks to Barack Obama, “[w]e are... Read More
Creating Jobs versus Creating Value
Picking on New York Times columnist Paul Krugman is one of the largest participation sports on the Internet.... Read More
