The central pillar of the Keynesian system is that spending drives the economy, so savings on a large scale will push the economy into recession. As Austrians know, that narrative is entirely false and fails to accurately explain how the economy works.
You May Also Like
Editor's Pick
Norbert Michel and Jerome Famularo In the aftermath of the COVID-19 pandemic, the United States experienced a much higher rate of inflation than at...
Editor's Pick
Romina Boccia and Ivane Nachkebia As part of the Cato Institute Report to the Department of Government Efficiency (DOGE), we submitted the following recommendations...
Editor's Pick
Michael F. Cannon A while back, after several conversations with Ezra Klein that afforded me a window into how his mind works, I made...
Editor's Pick
I had no idea the Fed could be such expert wafflers. But, as each month passes, it’s becoming clearer. The overall stock market trend,...