Friday, October 21, 2011

Video of the day: Nice intro to economics

It is great that those who did not go to college will understand this. Even better that those who did will, too. Via David Henderson.

UPDATE: Eric Falkenstein thinks:
So, like discussions in Marxist economics, which often involves very learned, earnest, and prolix researchers, it's best just not to go there [in questioning Keynesian solutions], because it's gibberish. Don't say Aggregate Demand, say, subsidies to investment of some kind, or more government spending, because that's more meaningful, and then ask, should we be subsidizing these investments, or having more government spending? The indirect effects are so speculative you might as well ignore them, and just ask if the direct effects are worthwhile.

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