Hillsdale College economics professor Gary Wolfram discusses Keynesian economics and the factors that pulled the national economy out of the Great Depression. The story of World War II shows that government spending may produce activity, but not the prosperity of a truly healthy economy.
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Voices From The 2017 International Students For Liberty Conference
In the 1950s, students started gathering in Paris. They were reading Karl Marx. They were forming book clubs. They were trying to come up with a better version of society. One that moved away from the division of labor. One that moved away from the capitalism in the big cities that they so despised. ... One of those students would change his name to Pol Pot. He and his colleagues formed a new political party, a takeover in Cambodia. They called themsevles the Khmer Rouge. ... Under Pol Pot and the Khmer Rouge, one out of four people in that country died in less than four years.
ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.
BLS: 4.3% Shadow Stats: 22.0%
May Year-to-Year: 1.87% (CPI-U*) Shadow Stats: 9.6%
*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]