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InsiderOnline Blog: November 2012

How the Economy Works, in One Bureaucrat’s Opinion

A news report from Serbia: “Director Serbia Posta said no worker will be fired, because the company’s problem is not too many workers but not enough business.” [Politika Online, November 26; h/t: economics professor Svetozar Pejovich.]

That’s pretty much been the philosophy of the past 80 years: If the economy isn’t working, don’t point the finger at the politicians, or the labor unions, or the businesses. Blame the consumer for not buying enough stuff.

Posted on 11/30/12 12:14 PM by Alex Adrianson

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