Frederick Engels, Ernest Untermann, eds.

If driving wages drives employment, then the extra money that some employee gets has been taken from another employee who has lost, or who doesn't get, a job.

Samuel Moore, Edward Aveling, trans.

Amity Shlaes begins [2008] with emphasis on this "Second Depression."To anyone with any wit, this relapse meant that the whole New Deal had collapsed; and conservative Democrats and Republicans took control of Congress in 1938 as a result, ending the "drastic experiments in government" of New Deal legislation.


Kahane, trans.Foreword by Friedrich A.

Foreword by Bettina Bien Greaves.

Be that as it may, there is nothing the Democrats do without promoting the power and size of government, despite the damage done to private business and employment.


He proved his case, while his adversaries could not prove theirs.

Tragically, the of the Democrats in 2008, which resulted in their control of both Houses of Congress and the Presidency, brought back Keynesian economics with a vengeance.

Hayek, , 1988, The University of Chicago Press, 1989, 1991, p.122

President Truman was urged to do something, but he actually said, "The kind of government action that would be called for in a serious economic emergency would not be appropriate now" [Richard K.

miles down the road toward the social democratic model he so admires.

A "stimulus" package of over 700 billion dollars was passed with emergency speed early in 2009, coupled with warnings that without such spending unemployment might exceed 8%.

What's this president's excuse?Bret Stephens, "2012: A U.S.

He fully showed to the world by these discourses, that he was able to reason on trade and business, as on the most abstract parts of science; and that he was none of those philosophers, who spend their lives in search of truths merely speculative, and who by their ignorance of those things which concern the public good, are incapable of serving their country. These writings recommended him to the notice of the greatest persons, with whom he used to converse very freely. He held weekly conferences with the earl of Pembroke, then lord keeper of the privy seal; and when the air of London began to affect his lungs, he went for some days to the earl of Peterborough’s seat near Fulham, where he always met with the most friendly reception: but he was obliged afterward entirely to leave London, at least all the winter season, and to go to a greater distance. He had made frequent visits at different times to sir Francis Masham’s, at Oates, in Essex; where he found the air so good, so agreeable to his constitution, and the society so delightful, that he was easily prevailed with to become one of the family, and to settle there during his life. He was received upon his own terms, that he might have his intire liberty, and look upon himself as at his own house. Here he applied himself to his studies as much as his weak health would allow, being seldom absent, because the air of London grew more and more troublesome to him. He came to town only in the summer for three or four months, and if he returned to Oates any thing indisposed, the air of that place soon recovered him.

Referendum on Europe," , Tuesday, January 3, 2012

It also pays to keep in mind that liberal economists like Krugman probably don't worry about consumer production because they are disdainful of "consumerism." Thus, they tend to forget that there is such a thing as a consumer economy.