It can only use coercive force to move wealth from one sector of the economy, where it belongs, to another sector of the economy, where it does not belong, by means of subjective and improper political calculation instead of objective and proper market calculation.
Ultimately, government interference in the free market destroys liberty and wealth.
"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others."
-Ayn Rand
Debunking Keynesianism
Schiff vs Obama
RELATED
Why Government Spending Does Not Stimulate Economic Growth
by Brian M. Riedl | Heritage Foundation | November 12, 2008
This is not the first time government expansions have failed to produce economic growth. Massive spending hikes in the 1930s, 1960s, and 1970s all failed to increase economic growth rates.
Paving Projects Won’t Boost Economy
William F. Shughart II | Independent Institute | Jan 6, 2009
The truth is government cannot “create” jobs or wealth in one sector of the economy without destroying them in others.
Obama’s Backward Economics
Yaron Brook | January 9, 2009
Obama-nomics couldn’t be more wrong.
Stimulating Our Way to Rock Bottom
Ron Paul | January 12, 2009
The truth is our economic problems are due to loose monetary policy, central economic planning, and the parasitic expenses of government. Unless we assess these problems honestly, we unfortunately have a long way to go until, like the junkie, we hit rock bottom.
The Obama Stimulus Plan Won’t Work
Dominick T. Armentano | Independent Institute | Jan 22, 2009
In theory, the money to fund the stimulus will have to come from either massive federal borrowing, substantial tax hikes, or pure money inflation by the Federal Reserve. But none of this can remotely promote recovery in the private sector of the economy.
There Is No Santa
by Walter E. Williams | January 28, 2009
Imagine you see a person at work taking buckets of water from the deep end of a swimming pool and dumping them into the shallow end in an attempt to make it deeper. You would deem him stupid. That scenario is equivalent to what Congress and the new president proposes for the economy.
Public Works Mean Taxes
Economics in One Lesson by Henry Hazlitt
There is no more persistent and influential faith in the world today than the faith in government spending
