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 Higgs0
Next quotes
Robert Higgs:
Many anti-energy groups display little appreciation of the extent to which modern economies dependRobert Higgs:
Some doomsayers think the collapse will be triggered by runaway government spending, excessive taxaRobert Higgs:
Austria, Germany and the U.S. South did not disappear as a result of their currencies' ruin. AlthouRobert Higgs:
We need to have a modicum of faith in people's common sense, creativity and will to survive and proTerry Jones:
Every age sort of has its own history. History is really the stories that we retell to ourselves toTerry Jones:
I'd always thought that if Python was going to go on at all, it'd be nice to get into storylines.Terry Jones:
Some people are passionate about aisles, others about window seats.Terry Jones:
We think of medieval England as being a place of unbelievable cruelty and darkness and superstitionTerry Jones:
The funny thing about history is that we imagine that people didn't laugh in the old days, but of cTerry Jones:
I've never been good at improvising.