All Posts Tagged With: "savings"
Keynes’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 First is the notion that savings are not spent but rather are withdrawn from the expenditure stream.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 | 3 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 money to lose [...]
Why 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 [...]
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Book Reviews
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The End of Prosperity: How Higher Taxes Will Doom the Economy–If We Let it Happen
By Arthur B. Laffer, Stephen Moore, and Peter J. Tanous
