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.
Robert Higgs QuotesShowing all quotes
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.
Austria, Germany and the U.S. South did not disappear as a result of their currencies’ ruin. Although many people suffered, most people found a way to survive, life went on, and economic activity eventually resumed after the adoption of a ‘reformed’ or foreign medium of exchange.
Some doomsayers think the collapse will be triggered by runaway government spending, excessive taxation, oppressive regulation, food shortages, fuel shortages or natural disasters such as deadly pandemics or lethal changes in the world’s climate.
|Birth:||1st February, 1944|
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.
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