ARNOLD KLING
August 14, 2011
The Top Political Contributors
August 11, 2011
Gender and the New Commanding Heights
August 11, 2011
Jamie Galbraith Makes an Assumption
August 11, 2011
Macroeconometrics: The Science of Hubris
August 10, 2011
Real and Nominal Bond Yields
BRYAN CAPLAN
August 14, 2011
The Effect of Thumb Sucking on Income
August 12, 2011
The Voice of Cold, Hard Truth to All Would-Be Educators
August 12, 2011
Ability, Morality, and Prosperity: A Paper and a Report
August 11, 2011
The Theory of Time and Frittering
August 10, 2011
Male Variance and the Remnants of the Gender Gap
DAVID HENDERSON
August 9, 2011
Hayek in "Unbroken", Part Two
August 8, 2011
Hayek in "Unbroken"
August 5, 2011
James Bovard on the Peace Corps
August 4, 2011
Summers Way Off on FDR and 1941
August 3, 2011
The "Amazon" Tax
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How does "saving is good" match up with the paradox of thrift? Or is Brad not one of the Keynesians pushing that particular line of thought.
The NSF budget is not tiny. There is the issue that the NSF was given an enormous budget increase from 2000 to 2004, and then stagnated. The budget increase from 2000 to 2004 was larger than that from 1991 to 2000.
The flood of money and then stagnation, though, drew extra people into science who then had problems when the money stopped growing enough to support them.
The federal government does not need to spend more money on porn addicted employees. The private sector can do a better job at that any way.
The lack of savings and capital accumulation can be made up through hard work (human capital) and innovation, but when someone else can lay claim to our future production through previously accumulated debt, these quickly evaporate. We have never experienced this in the relatively short life of our country, but history is full of examples of debtor countries. I worry about being sold down the river by charlatan economists who believe in the paradox of thrift.