ACCT 6282 Lecture Notes - Lecture 8: Government Spending, Price Fixing, Price System
19 Jul 2016
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Economic in one lesson: in your own words, state the lesson of hazlitt"s economics in one. Include at least one policy argument in favor of the policy and one counter argument: the blessings of destruction. There is a difference between need and demand. There is never an advantage or blessing in the destruction of one"s property even though it may result in benefiting other people unless valueless. What is harmful to one individual must be equally harmful to an individual that make a nation. Government spending is important but not when it effects some people. Public works are important but not when it only provides employment. Taxpayers do not benefit from these taxes; they help provide jobs for other people but may loose their jobs in return the tax policy does not consider the consequences it causes diversion: credit diverts production. The policy is short sided; credit policy from government and only looks from one stand point.
