If you have a private firm and you spend a ton of money to pay employees, but what you produce is a flop, there will be no value to GDP. But government spending all gets counted as contributing to economic growth. That’s why in the early days of creating these measurements, some people didn’t want to count government spending.
Robert Higgs Quotes
Many anti-energy groups display little appreciation of the extent to which modern economies depend pervasively on the use of fossil fuels and petrochemical products.
Similar Quotes
Cricket is the greatest game that the wit of man has yet devised.
- Sir Pelham WarnerAdvertising is selling Twinkies to adults.
- Donald R. VanceThe struggle of the male to learn to listen to and respect his own intuitive, inner prompt...
- Herb GoldbergEach generation of the church in each setting has the responsibility of communicating the ...
- Francis SchaefferEach had defended his own country; the Germans Germany, the Frenchmen France; they had don...
- Ernst TollerComments on: "Robert Higgs Quotes: Many anti-energy groups display little appreciation of the extent to which modern economies..."
| Birth: | 1st February, 1944 |
| Nationality: | American |
| Profession: | Economist, Historian |
About
Robert Higgsv is an American economic historian, economist combining the insights from the Public Choice, Institutional, and Austrian schools of economics, and a libertarian anarchist in political and legal theory and public policy.
Share with your friends