Thursday, August 23, 2012

Job Creators? OR In Praise of Consumerism and Materialism?

The following video praises consumerism and materialism as drivers of job creation and economic growth. The policy implication is that higher tax rates on entrepreneurs and high income earners should have little impact on job creation and economic growth if consumerism and materialism (i.e. Keynesian aggregate demand) are key drivers of prosperity.
 However, their is quite a bit of empirical evidence to the contrary.

See: Can tax cuts impact entrepreneurial activity and job creation?