December 22, 2014

Quote of the Day

Our first big stimulus fell flat, leaving Keynesians to argue that the recession would have been worse otherwise. George Washington's doctors probably argued that if they hadn't bled him, he would have died faster. -- John H. Cochrane, WSJ Ed Page
UPDATE: Honorable mention (same column):
By Keynesian logic, fraud is good; thieves have notoriously high marginal propensities to consume.
Quote of the Day Posted by John Kranz at December 22, 2014 10:59 AM
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