“Keep Paying Us or the Economy Dies”
Oct 27th, 2011 @ 12:29 am › David Veksler
From Wired: Defense Industry: Keep Paying Us or the Economy Dies
“If we are not allowed to steal money from companies that make things that people want and from the salaries of people who want to buy their products, then we will not be able to hire people to make things that no one wants to pay for.”
This argument relies on “studies” which use the broken window fallacy to obscure the essential aspect of government spending: the coercive redirection of resources from productive and voluntary production of values to unproductive and involuntary destruction of values.
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6 Responses
According to the Defense Department GDP could be lowered by 25% if these cuts are made. That could explain why, in the previous post about equality, that GDP per capita doesn’t correlate with life expectancy: GDP doesn’t measure useful output!
http://secondtonone.org/analysis-projects-one-million-jobs-at-risk-from-defense-cuts
This is something that Ron Paul needs to say out loud on his budget plan if he gets elected. People still wrongfully equate GDP with prosperity even though it’s completely bogus.
You can’t argue with blackmail.
True Skyler, it’s a form of blackmail.
Lol. Thats the difference between Austrian and everyone else… Austrians dont break windows, metaphorically like the state does or literally like the “left radicals” do.
Another economist in the pocket of a trade group. Nevermind, zero-out their funding! And sell-off the Pentagon and military reservations too.