The saddest aspect of this economic ignorance is that these evangelicals have completely ignored the real reductions in poverty rates in the past forty years, reductions that are due to liberalizing economies that once were in socialist straitjackets.
Contrary to what many modern economists say, increased saving is not a problem for the economy. The real problem stems from declines in production and saving, and these often result from central banks' monetary policy.
Mises points out that eugenicists’ aim to improve the “quality” of the human race is an incoherent and meaningless goal: there exists no clear and objective standard by which the quality of human beings can be measured.
The problem of the European Union has never been a lack of monetary and fiscal stimulus, but rather an excess of these. This has failed to produce real growth, and now we're getting more of the same, but even bigger.
The new Keynesian recommendation for monetary policy is to “stabilize the growth of aggregate demand.” In plain language this means that the monetary authorities should never stop flooding the economy with paper money.
Economists are often accused of being insensitive or unconcerned about social problems, because we try to consider all the costs and benefits, both short term and long term. This often means that we are skeptical of the popular quick political fix.