The war against savers
In the Middle Ages, they threw people who failed to repay their debts into debtors’ prisons. Today debtors are rewarded with all kinds of government perks. Look how far we’ve come! Caroline Baum – Inflation ‘Cure’ Exposed When In-Laws Move In
Calculating GDP
Greg Mankiw writes: If the government hires people to produce stuff that is worthless, that stuff is included in GDP just as much as if the government buys something valuable. When calculating GDP, the national income accountants do not pass judgment on the social utility of government spending. Anyone concerned with economic well-being has to [...]