What was it, the next day after the earthquake and tsunami that Keynesian market commentators began licking their chops over how these disasters would actually help the Japanese economy, because of all the stimulus spending and quantitative easing? That was their knee-jerk reaction, despite Japan's stimulus spending since 1990, which produced two lost decades.
It's funny that they didn't use the same argument about the international invasion of Libya and all the ensuing destruction and civil war. After all, if you subscribe to the broken-window-fallacy, what difference does it make whether you throw a rock through somebody's window, or use a ball instead?
It's funny that they didn't use the same argument about the international invasion of Libya and all the ensuing destruction and civil war. After all, if you subscribe to the broken-window-fallacy, what difference does it make whether you throw a rock through somebody's window, or use a ball instead?
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