WND column

This is what I am referring to in today’s WND column. It succinctly shows the death of Keynesian economics in one simple graph. The empiricists who have rejected the compelling but non-empirical critiques of the Austrian School for eighty years will not find it so easy to dismiss the empirical evidence of the declining marginal utility of debt.

There will be no double-dip but only because the “recession” never ended. It was merely disguised due to the ludicrous metric of GDP which counts government borrowing and spending as economic growth. To insist that GDP growth is economic growth is to confuse the map with the territory.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: