Government efforts to expand “aggregate demand” involve new spending and money creation. In reality, these activities destroy wealth in the name of expanding it.
Original Article: Does Government Spending and Money Expansion Create New Wealth or Destroy It?
Frank Shostak is an Associated Scholar of the Mises Institute. His consulting firm, Applied Austrian School Economics, provides in-depth assessments and reports of financial markets and global economies. He received his bachelor's degree from Hebrew University, master's degree from Witwatersrand University and PhD from Rands Afrikaanse University, and has taught at the University of Pretoria and the Graduate Business School at Witwatersrand University.
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