The thesis that “deficits don’t matter” does not begin with the English economist John Maynard Keynes, but with the much-less-known Polish economist Michal Kalecki.
Austerity need not be painful when the contraction of the public sector is accompanied by the expansion of the private sector. Thus, the real solution lies in fostering more progress in entrepreneurship and private ownership.
Before wealth can be redistributed by the state, it must first be produced. But welfare-state policies end up destroying the very wealth which is necessary for redistribution.
Before wealth can be redistributed by the state, it must first be produced. But welfare-state policies end up destroying the very wealth which is necessary for redistribution.
