Tuesday, June 25, 2013

Apparently this reasoning, which Landsburg got from Rothbard, originally came from Hazlitt...

...giving me yet another reason to never, ever, waste any of my precious time on this Earth reading Hazlitt.

Citation provided here.


  1. This is the "proof" I remember from Kahn. What did he and Keynes actually use to explain the multiplier?

  2. When giving this example Hazlitt writes in a footnote: "I am indebted for this illustration to a forthcoming book by Murray N.Rothbard." (p.151 "Failure of the New Economics").


  3. And Hazlitt was basically a dumbed down rehash of Bastiat.


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