Excellent presentation -- the majority of the current government programs fall under this fallacy: tariffs and protectionism, high minimum wages, public works projects, larger government, cash for clunkers, etc... The list goes on and it is all bad.
Keynes was wrong, the Austrians (Hayak, et. al.) are right. End of argument.
Hat tip to The Gormogons for the link.
Posted by DaveH at August 10, 2010 8:51 PM