Quote from: JA37 on December 15, 2011, 07:13:18 AM

Quote from: libertytrader on December 15, 2011, 04:00:15 AM

Rich people invest, and investment creates jobs. Employees need to be worth the capital to be hired, but ultimately the investment creates the jobs ergo rich create jobs.

You couldn't be bothered to read the article could you?

I did.

Yet another non-economist spewing out ignorant opinions on macroeconomics, based on nothing but his personal microeconomic experience and anecdotal evidence.

Then the author going, "oooh listen to that guy, what he is saying must be true, I mean he is RICH after all".

The arguments presented are so crude and simplistic that even Krugman could point out flaws in them.

In fairness, the article is right about one thing: The indiscriminate spending it advocates would create jobs of SOME sort. But if the author had even a minimum of economic literacy he would know that indiscriminate job creation is not the POINT.

The point, and the big challenge of economic policy, is the creation of useful, productive jobs.