Obama Stimulus Check

By Gerard Jackson

The economic news is indeed grim and getting grimmer, with rising unemployment flagging the bad news. Nearly 600,000 jobs went in the third quarter with more than 250,000 jobs going in September, which totalled 1.37 million job losses for the year, even though the unofficial unemployment rate stayed at 4.9 per cent. This [...]

Continued from Economic Myths Part1 , Economic Myths Part 2, Economic Myths Part 3, Economic Myths Part 4 and Economic Myths Part 5

“And why has there been an increasing use of credit to supplement a drop off in purchasing power of the average American?” he triumphantly declares. Because, my cretinous friend, of the fallacy of [...]

Continued from Economic Myths Part1 , Economic Myths Part 2, Economic Myths Part 3 and Economic Myths Part 4
This completely demolishes my critic’s view that “that productivity is used to supplant labour, not to enhance.” It should now be clear that he has committed the lump-labour fallacy which basically argues that there is only a [...]