Can government’s finances be compared to a household’s?

posted by
May 19, 2011
Ludwig von Mises Institute
by Robert P. Murphy  
Posted in Commentary

"Politicians often try to empathize with struggling Americans by promising to cut government spending, 'just like regular households in tough times.' This simile evokes different reactions depending on one's economic views. Keynesians think it's reckless, proponents of Modern Monetary Theory (MMT) think it's absurd, and Rothbardians think it's correct as far as it goes, but it falsely equates tax revenues to an honest living." (05/19/11)  

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