DougM

Keynes vs. Von Mises

At the end of the day, what really matters is whether the projects undertaken by government have a positive economic return. Would anyone care to argue that there never have been nor ever will be any government projects that have economic benefit? I expect there are plenty of such projects available, and their comparative attractiveness rises as other projects in the private sector fall off a cliff and as interest rates plunge. Unfortunately, there are all too many projects that have little or no value, and the machinery of government inevitably showers resources into the good, the bad, and the ugly.