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Dear neo-Keynesians:

There is only one difference between a bad economist and a good one:the bad economist confines himself to the visible effect;the good economist takes into account both the effect that can be seenand those effects that must be foreseen…the bad economist pursues a small present good that will be followed by a great evil to come,while the good economist pursues a great good to come,at the risk of a small present evil.Frederic Bastiat "The decline of great powers is caused by simple economic over extension." Paul Michael Kennedy British...

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Published By: TriadWatch - Monday, 25 June, 2012