The Corner

Another Question For My Austrian-School Correspondents

again about the Wall Street Journal op-ed page: Yesterday it ran a piece by Robert McTeer, a man who I’m sure would be a great Federal Reserve chairman. But he endorsed, in his piece, both Keynes’s “paradox of thrift” and Bastiat’s “parable of the broken window.” Aren’t these lessons contradictory?

Ramesh Ponnuru is a senior editor for National Review, a columnist for Bloomberg Opinion, a visiting fellow at the American Enterprise Institute, and a senior fellow at the National Review Institute.

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