The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt
Tuesday, September 01, 2009
Milton Friedman: Most Persistent Economic Fallacy of All Time-Government Spending Creates Wealth
Milton Friedman in a lecture explains why government spending doesn't create wealth... (HT: Mark Perry)
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