Back in the 1970s and 1980s, one of the annual traditions in Washington D.C. was the announcement of the Golden Fleece Awards, which identified the some of the biggest and silliest things the U.S. federal government wasted money upon during the previous year. Originally launched by former Senator William Proxmire (D-WI), his spirit lives…
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Today, economist�Richard Rahn�discusses in his�Washington Times op-ed “Government spending jobs myth” the Krugman/Keynesian fallacy that government spending�produces�jobs: If additional government spending could create more jobs, it would be expected that over the long run, the socialist or semisocialist economies would have full employment and the smaller-government, developed economies would have higher unemployment. Again, the…
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