Every action has a reaction. Physics teaches that. So should economics. Because it’s as true in economics as it is in the physical world.
But if you take all someone’s money because they’ve made a lot this won’t change the number of people who go out to work to make a lot of money.
Every action has a reaction but the substitution effect doesn’t exist.
Ho Hum.
The laws of thermodynamics show that perpetual motion is impossible.
In Murphonomics, however, the government paying public sector workers is entirely self-funding. It’s almost as if gravity did not exist in the Ely cretin’s mind.
I feel sorry for his son who has to record and edit this toss every day.
How does this square with spud theory that crowding out is not a thing? Sorry, wrong place to ask.
@Boddicker – “has to” is carrying a lot of weight there, “chooses to”, “decides to”, even “wants to”. He could choose to point out that it’s all wrong and full of contradicts and refuse to edit / post it.
I can’t imagine anyone would choose to spend their evenings filming an elderly pompous tosser and doubt spud is paying him, unless he’s working off his tax debt from his childhood pocket money