For honest money and social progress
The Filter^: Is government spending an irrelevent component of economic activity?.
Many Austrian-school economists seek to subtract government spending from GDP to get a more useful measure of economic activity. In this article I express doubts about doing so.
“… equally efficacious, and equally a hoax.” – Benjamin Disraeli, 1848[1] One of the highlights of the U.S. summer for Fed watchers is the annual ritual…
