Economic Myths #2: Consumption Boosts Growth

[First published on Free Life]

The belief that economic progress is boosted by consumption is based upon the kind of misunderstanding that could be made only by intellectuals – the product of theorising that is completely detached from the common sense that everyone else possesses.

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Saving, Investment and Prosperity

In a recent article for Free Life, I noted that, for me, the urge to pen a rebuttal to the work of others come not from trawling through the drivel of a statist, leftist or mainstream pundit. Rather, it comes in response to a libertarian who has spouted some piece of nonsense in spite of being in a position to know better. Today, we will address something similar of this ilk in the realm of economics from Alistair MacLeod, Head of Research at Goldmoney.

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