A rebuttal to those who discount the Multipler Effect of spending on Social Security
An interesting, indicative, yet highly misleading article attempting
to rebut the positive Money Multiplier effect of spending on Social
Security was recently posted on The Progress Report - http://www.progress.org/the-social-security-non-multiplier.
The Progress Report is an online journal mostly promoting Georgist
economic solutions, which I generally agree with, but sometimes veering
off into pseudo-libertarian and obsolete austerity paradigm economics,
which need to be firmly rebutted. The article was by Fred Foldvary,
whose bio states:
Fred Foldvary is an economist and has been writing weekly editorials for Progress.org
since 1997. Foldvary's commentaries are well respected for their
currency, sound logic, wit, and consistent devotion to human freedom. He
received his B.A. in economics from the University of California at
Berkeley, and his M.A. and Ph.D. in economics from George Mason
University. He has taught economics at Virginia Tech, John F. Kennedy
University, Santa Clara University, and currently teaches at San Jose
State University.
Foldvary is the author of The Soul of Liberty, Public Goods and Private Communities, and Dictionary of Free Market Economics. He edited and contributed to Beyond Neoclassical Economics and, with Dan Klein, The Half-Life of Policy Rationales. Foldvary's areas of research include public finance, governance, ethical philosophy, and land economics.
Foldvary is notably known for going on record in the American Journal of Economics and Sociology
in 1997 to predict the exact timing of the 2008 economic
depression--eleven years before the event occurred. He was able to do so
due to his extensive knowledge of the real-estate cycle.
Fred Foldvary(image by The Progress Report) DMCA
