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Thursday, December 16, 2010

Obama, Corporate Heads Discuss Economy

“Nearly five hours of top-level talks between the leader of the free world and the leaders of the corporate world Wednesday produced agreement on two fronts: They’re making slow, steady progress toward a growing economy. And they’ve got a long way to grow. At a meeting across Pennsylvania Avenue from the White House, 20 corporate leaders told President Obama that more consumer demand and less-burdensome government regulations still are needed before businesses can create millions of new jobs and reduce the 9.8% jobless rate.” (USA Today)

The misguided Keynesian emphasis on boosting consumption is pervasive.

FEE Timely Classic
“The Return of Keynesianism” by Donald J. Boudreaux