Episode 105 Recession or Not, More People Are Producing Less

Summary:

Regardless of how the government arbitrarily defines “recession,” it is still a fact that the economy as a whole is producing less goods and services. That it is creating more jobs to produce less product is not a good thing.

Additional Reading:

The General Theory of Employment, Interest, and Money (Keynes)

Economic Sophisms and “What Is Seen and What Is Not Seen” (Bastiat)

The Politically Incorrect Guide to Economics

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