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Politics

The Keynesian Multiplier Is a Dangerous Myth

Keynesians claim that through the “multiplier,” a country can spend itself into prosperity. All that is needed is for government to tax, borrow, print money and spend, and prosperity will follow. Austrian Economists, however, are not fooled by such myths.

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Why do cultures degenerate? Robin Hanson cites biological factors, but Mises and the Austrians point directly to purposeful choices.