Running Government Like A Business or Family || Paul Krugman Tear Down

Paul Krugman:

… bad analogy between governments and individuals, and the line that the government should act like an individual family or business, and cut back when times are tough. The key point is realizing interdependence: your spending is my income, my spending is your income, and if we all try to slash spending at the same time the result is a depression. Somebody needs to step up and spend when others won’t — and the government can and should be that somebody.

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One of many hard to swallow fallacies many ignoramuses dressed as pundits/economists have been spitting here in Portugal, with great success btw.