Economic Malpractice | Richard W. Rahn | Cato Institute: Commentary

Economic Malpractice | Richard W. Rahn | Cato Institute: Commentary: "there was no case where a big increase in government spending — correctly measured as a percentage of gross domestic product — led to both higher private consumption and significant job growth"

"a prudent person responds to tax and regulatory uncertainty by taking fewer risks, such as expanding the business rapidly or hiring new people."

"Government can create government-sector jobs at the expense of private-sector jobs, but not at a higher real wage — which is one reason why a growing welfare state and/or a socialist economy always fail."