Freeman Essay #119: “Interpreting the State of the World”
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These empirical studies leave many leading economists dubious about the ability of government spending to boost the economy in the short run. Worse, the large long-term costs of debt-financed spending are ignored in most studies of short-run fiscal stimulus and even more so in the political debate.Only time will tell if we will see Keynesianism again recede.
The sovereign debt crisis now threatening Europe, as well as major American states and cities, discloses the sheer incompetence of a political class that has over-promised, under-delivered and squandered vast amounts of their citizens' wealth.That really gets to the heart of the matter, doesn't it?
A 23-year-old Russian man accused by U.S. authorities of generating nearly a third of the spam e-mails worldwide is expected to be arraigned Friday in a Milwaukee Court.