Tax (Photo credit: ( 2012)
“All the world is a stage and all the men and women merely players:….” Shakespeare. Remember this quote when analysing anything involving politics.
Human action is purposeful behavior. Action is not simply verbal preference, it is the individual choosing and acting to reach a particular end. What is the particular end the actors on the “fiscal cliff” stage are trying to attain? If you say making themselves and their political party look good, and making the opposing politicians and party look bad, you have a keener insight into the plot of this play than 90% of the audience these political performers are playing to. This is all about assigning blame for the economic problem we are in, and trying to maneuver into position to take credit for any upturn in the economy, or assign more blame to the other party if it gets worse. What you are watching is not economic reality but political theater. You have to dig below the political surface and look at the underlying economic realities, in order (more…)
AUSTRIAN ECONOMICS ADDICT 