Tuesday, January 6, 2015

Geoff Coventry — 2015: A year to learn hope-filled economics

Conservative economics has forgotten that spending equals income.
One business's income is another person's spending. In the aggregate, income = spending.

If spending falls, income falls. If income falls, businesses cut investment and costs and lay off workers.
 
Conservative economics has taught that we must reduce spending even more to grow income... Huh??? 
...all because of tragically mistaken concepts of how money works.…
It's The People's Money
2015: A year to learn hope-filled economics
Geoff Coventry

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