I found this at a site Victor Claar put me on to. (Though Claar doesn't endorse this clip's view.)
Update: Two related articles that critique the Paradox of Thrift.
BBC: The paradox of thrift
Cato Journal: The Paradox of Thrift: RIP
The Paradox of Thrift
Comments
2 responses to “The Paradox of Thrift”
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Thanks for the kind mention, Mike. I like Paul Solman’s pieces. He really understands economics–though I should point out I am not won over by the Paradox of Thrift.
Here are two stories for background (one from the BBC, pretty balanced; another from Cato, pronouncing the death of the Paradox as an economic tenet):
http://news.bbc.co.uk/2/hi/business/7745858.stm
http://www.cato.org/pubs/journal/cj16n1-7.html -
Thanks Victor. I didn’t mean to imply an endorsement of Solman’s view by either you (or me.) I’ve added to the post to make that clear.
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