Parsimony doesn’t help, at least not at times like these. The Economist offers this article to explain how, if not why.
Among its revelations is that the view of recessions as being caused by booms is “popular,” if only on the basis of moral retribution. The slump, of course, is not over, and the respective fates of provident versus profligate economies are by no means clear at this early juncture.
One of the interesting things about this and many other media is that one can read reader comments in response to the article. The responses to articles like these in a medium like The Economist strike me as surprisingly good on average – well worth reading.
Of course, one can further improve the mix by lodging one’s own comments.
Source link: http://blog.mises.org/9056/the-keynesian-economist/
The Keynesian Economist
Previous post: Celebrate the End of Prohibition!
Next post: Among many great things about recession
{ 1 comment }
Even if The Economist is right, it seems to me this is a case of the public-good problem. Spending my money instead of saving it would help end the recession, but it would not improve my prospects.
Comments on this entry are closed.