the paradox of thrift
much like a child getting his pocket money
one of the biggest economic quest
still whether it's better to save or spend
free marketeers like hajek and Milton Friedman
say that even in difficult times it's best to be thrifty and save
Banks then channel the savings into investment
a new plan
skills and techniques
but let us produce more
even if this new technology destroys jobs
wages will drop
and businesses hire more people
so unemployment falls again
simple
at least in the long run
but then a live fast die young kind of chat
John may not k
cheerfully pointed out
in the long run we're all dead
so to avoid the misery of unemployment
the government should instead
spend money to create jobs
whereas if the government tightens its belt
when people and businesses are doing the same
let's spend
so unemployment gets even worse
that is the paradox of thrift
so instead they should spend now and type
later when everyone's happy to pay
though making people happy to pay tax
with something even canes didn't solve