This short video was produced by students at the Mises Institute. It begins with a statement by America’s #1 Keynesian economists that World War II was a vast public works project that brought America out of the depression.
Krugman did not perceive that he was thereby admitting that almost nine years of New Deal public works spending and federal deficits, 1933-42, had failed to achieve this goal.
Here, in 3 minutes, we have the refutation of Keynes, Krugman, and the other believers in the broken window fallacy.
The broken window fallacy is much like the pro immigration fallacy that focuses only on the small economic benefit from massive immigration that goes to those that hire the immigrants and the immigrants themselves, while ignoring the economic,social and environmental costs that is placed on the rest of us.
That's a false analogy. Whether you're talking about legal or illegal immigration, the negative costs are imposed by our own government, not the immigrants themselves. In fact, when immigrants work here for less than the artificially high wages Americans get (via unions or minimum wage laws) it's effectively the opposite of the broken window fallacy: they are providing needed services at lower prices, thereby allowing Americans to keep more of their money for other uses. As long as they don't go around breaking windows, the economics of immigration are a net benefit for everyone.
Good point.
It’s nice to read a rational comment on immigration. Nicely said.
Well said.
"Immigration" is just another Goebles-like scare tactic that politicians use on the weak minded.
As a side thought, God is not through with the Northeast yet. Starting Wesnesday and through the weekend, He is going to hit them again. And once again, they will not have enough sense to get up and GET OUT. Then after the storm, they will NEVER think of going to work and doing EVERYTHING they can to put their lives back together again. No, they will wait for a news crew with camera to come along so they can complain that NO ONE IS DOING ANYTHING FOR US.
Some good advise for you. DO FOR YOURSELF.
PS This will not be the last hit on the Northeast.
I just left Front Porch website and unsubsribed because they started to play with restricting my posts. I guess that you may be next. I notice that you don't seem to have that many readers any more. Are you wanting to run off the few you have left?