“Fresh signs of a nascent economic recovery came from hard-hit Europe on Thursday, with Germany and France unexpectedly becoming the first major industrialized nations to officially pull out of the global recession…. It underscores, analysts say, how ramped-up government stimulus spending around the globe appears to be having at least some of its desired effects.” (Washington Post, Friday)
The media keep touting the merits of government stimulus, blissfully ignorant of the “broken window fallacy.”
FEE Timely Classic
“What Is Seen and What Is Not Seen” by Frederic Bastiat
