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“The two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first.” Thomas Jefferson

Wise words to live by...

“To lay taxes to provide for the general welfare of the United States, that is to say, 'to lay taxes for the purpose of providing for the general welfare.' For the laying of taxes is the power, and the general welfare the purpose for which the power is to be exercised. They are not to lay taxes ad libitum for any purpose they please; but only to pay the debts or provide for the welfare of the Union.” Thomas Jefferson

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Ralph Musgrave - Ralphanomics

Has syndicated 377 articles on The Blog Farm.

Yipee – austerity brings modernisation.

In case you had any doubts as to whether the lunatics have taken over the asylum, the New York Times cites some authoritative figures round Europe to the effect that austerity in Greece will bring modernisation.

Anyone with any ideas as to how mass unemployment and cutting social security benefits helps turn an inefficient transport system into an efficient one, please leave your suggestions below. I’m always happy to learn.

Hat tip to Econospeak.

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    Ralph Musgrave - Ralphanomics

    COMMENTARIES (SOME OF THEM CHEEKY OR PROVOCATIVE) ON ECONOMIC TOPICS BY RALPH MUSGRAVE, DURHAM, UK. THIS SITE IS DEDICATED TO ABBA LERNER. I DISAGREE WITH SEVERAL CLAIMS MADE BY LERNER, AND MADE BY HIS INTELLECTUAL DESCENDANTS, THAT IS ADVOCATES OF MODERN MONETARY THEORY (MMT). BUT I REGARD MMT ON BALANCE AS BEING A BREATH OF FRESH AIR FOR ECONOMICS.

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