libertarianism

October 31, 2015 § Leave a comment

Somebody in a comment somewhere said that “socialism = debt.”

I responded:

Capitalism = private debt, socialism = public debt. Private consumer spending is 2/3rds economic growth in most western economies so… you lose, unless you want to explain how people can generate aggregate demand necessary for growth in an economy in which income increasingly services debt to the exclusion of everything else.

Libertarian free trade cultism destroyed in two graphs:

ConsumerDebtAll
household-debt-vs-savings

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