Hennessy's View

Domine, non sum dignus

Business Insider Has No Idea Where Money Comes From

I love some things about Business Insider. Mostly its great headlines. Unfortunately, sometimes its writers show an ignorance of basic economics in their rush to catapult Obama to a second term. Joe Weisenthal is just the latest example. Joe tries to claim that economic recovery in the US is retarded by loss of public sector jobs. What Joe doesn’t seem to get is this: the private sector pays for those public sector jobs. Read more →