Here’s a common refrain: the rich are parasites who in fact don’t create jobs at all. Plenty of them just shelter their income somewhere. The real job creators are the working classes, who go out and spend their money. This is what stimulates economic activity. What is the correct response to this line of argument?
About the Guest
David Howden is chairman of the department of business and economics at the Madrid campus of St. Louis University. He is academic vice president of Mises Canada, editor of the journal Prices & Markets, and co-author of Deep Freeze: Iceland’s Economic Collapse.
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Event Mentioned
2016 International Conference of Prices & Markets
Previous Appearances
Ep. 540 Left Attacks Rand Paul on His Fed Comments; We Respond
Ep. 419 Austrian Business Cycle Theory: Answering the Critics
Ep. 118 Boom and Bust: The Cause
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