Thursday, September 02, 2010

Laws of Economics 1; Obama 0

Robert Barro, Professor of Economics at Harvard University, writes:
My calculations suggest the jobless rate could be as low as 6.8%, instead of 9.5%, if jobless benefits hadn't been extended to 99 weeks.
To conservatives, it is obvious that giving people cash incentives to remain unemployed will increase the number of unemployed. Liberals, on the other hand, probably wouldn't understand it even if a Harvard professor explained it to them.

PREVIOUSLY on the subject of Obamanomics and how it differs from economics:
Why Liberal economics fails: redistribution does not create wealth (Illustrated)
Obamacare endangers student health
Why business isn't hiring
Dodd-Frank finance "reform" bill stops bond market cold
Why unemployment insurance must be extended (illustrated)
Obamanomics still failing, Washington Post discovers
Russia goes supply-side
Study: Liberals are economically illiterate
Obama's health care and economic policies explained
Obama modeling US economy after Europe's
Irresponsibility pays!
Obamanomics prolonging the recession
US Aaa bond rating threatened by Obama's budget says Moody's
Obamanomics illustrated II
How Dems are prolonging the recession
How Obamanomics destroys jobs
Obamanomics illustrated
Deficits: Obama goes where no man has gone before (illustration)
How to raise the standard of living
Obama's anti-intellectual economic theory
Obamanomics and the test of science
Obamacare may raise insurance costs by 54%
Harvard economist explains why Obamacare will raise premiums
HHS says Obamacare will cause costs to go up and cause employers to drop coverage

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