Tuesday, November 4, 2014

Peter Cooper — Pain of Austerity Brings No Future Gain

In a nutshell, the economy comes down to this: we have available labor time and natural resources with which we can produce some stuff and distribute it. Unemployment now means lost production now that can never be recovered in the future.
Real waste.

heteconomist
Pain of Austerity Brings No Future Gain
Peter Cooper

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