Economics study group
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Rothbard: “government spending… is solely consumption”
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Rothbard: “government spending… is solely consumption”
At the beginning of Chap 7 of America’s Great Depression, Rothbard writes: “government spending, whatever the label attached to it, is solely consumption.”
I understand the sentiment here- most government spending is suboptimal compared to private investment. Surely in the 10,000 year history of humanity, at least a few government projects could be considered “investment.”
Is every government bridge ever constructed only “consumption”? Maybe those bridges could have been constructed more efficiently by private investors, but they aren’t consumption, right? There are some 1,000 year old Roman bridges in the world that still provide value to this day. -
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