All Commentary
Tuesday, August 3, 2010

Fed Chief Looks to Higher Pay for Economic Tonic

“Federal Reserve Chairman Ben S. Bernanke said rising wages would probably spur household spending in the next few quarters, even as weak job gains dragged down consumer confidence.” (New York Times, Tuesday)

If consumer spending actually drove the economy, that might be nice to know.

FEE Timely Classic
“Consumer Spending Doesn’t Drive the Economy” by Mark Skousen