“Those who engage in purely academic debate can remain aloof. Those who want to turn our economic life upside down because of their theories have a duty to get down and dirty on our terms and explain (and re-explain) their case ad nauseam.
Many economists have a theory. They, too, have turned economic life upside down; literally so. The theory, originating with Keynes, is that spending money creates wealth. That’s curious. You might say, with your powers of common sense, ‘it has never worked for me.’ Put that aside and follow the theory and see where it leads.
Drug dealers and other assorted criminals and hangers-on and cronies aside, the rich get rich because they add value. They transform resources worth a dollar into a product which sells for two. If they converted a dollar into say 80…
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