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You should read The Economics of Innocent Fraud. http://www.amazon.co.uk/Economics-Innocent-Fraud-Pocket-Penguins/dp/0141023015 http://www.amazon.co.uk/Economi
by tpatke 15y ago
You should read The Economics of Innocent Fraud. http://www.amazon.co.uk/Economics-Innocent-Fraud-Pocket-Penguins/dp/0141023015 http://www.amazon.co.uk/Economics-Innocent-Fraud-Pocket-Peng...
>Whatever they don't consume is reinvested in the economy.
This is true of all financial transactions. The question is, are resources being allocated efficiently? As the authors state - that 5 trillion is not going to build schools or hospitals.
- yummyfajitas 15y agoAs the authors state - that 5 trillion is not going to build schools or hospitals. It's almost certain that some chunk of it is being spent on (for-profit) hospitals and schools. But you are correct - some it is is spent on automotive manufacturing, telecom infrastructure, heavy equipment producers, sporting goods, etc. Is there some reason to believe that schools and hospitals is a better use of the money than these other projects?
- deleted 15y ago[deleted]