Robert Lucas on the Business Cycle
One of the masterminds of real business cycle theory admits that sometimes financial shocks do matter, here. (Hat tip Ryan Murphy.)
Central Planning Works!
Declares LewRockwell.com:
"All of this means that while the government has been artificially propping up the economy and 'stimulating' it through artificial means, peoples’ perceptions of economic life have been transformed into that which was intended by the central planners: the economic crush is over, our government cured all the problems, things are great again, go back to your old ways. Rinse and repeat."
"All of this means that while the government has been artificially propping up the economy and 'stimulating' it through artificial means, peoples’ perceptions of economic life have been transformed into that which was intended by the central planners: the economic crush is over, our government cured all the problems, things are great again, go back to your old ways. Rinse and repeat."
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