Nancy Pelosi is being appropriately mocked for her strange assertion that subsidizing unemployment is a great way to “stimulate” the economy, but keep in mind that this she is just mindlessly regurgitating standard Keynesian theory. Here are two videos. The first is Pelosi’s ramblings and the second is my analysis of Keynesian economics. I hope my words are more convincing.
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[...] assertion that subsidizing unemployment is the best way to stimulate the economy. Unfortunately, as we pointed out at the time, such claims reflect nothing more than standard Keynesian economics as understood by so many [...]
[...] assertion that subsidizing unemployment is the best way to stimulate the economy. Unfortunately, as Dan Mitchell pointed out at the time, such claims reflect nothing more than standard Keynesian economics as understood by so many [...]