Janet Yellen admits she underestimated inflation, but she still does not realize that inflation is not higher prices, but the increase in fiat money that forces up prices.
Hazlitt popularizó el pensamiento económico sólido, fue un crítico de Keynes y contribuyó a la filosofía moral ética. No está mal para un pobre niño huérfano de padre y que abandonó la universidad.
Hazlitt popularized sound economic thinking, was a critic of Keynes, and contributed to ethical moral philosophy. Not bad for a poor fatherless boy and college dropout.
¿Cómo se llevó a cabo la revolución keynesiana? Las viejas falacias fueron revestidas por Keynes con una jerga tan pretenciosa, que los discípulos keynesianos pretendieron ser los únicos capaces de entender al Maestro.
How was the Keynesian Revolution accomplished? The old fallacies were dressed up by Keynes in such a wilderness of pretentious jargon, that the Keynesian disciples claimed to be the only ones able to understand the Master.
Reparations is a buzzword in the present political climate, but most plans involve an expansion of the welfare state. But there is a form of reparations that is legitimate.
