The American Spectator : Paul Krugman’s Obsolescence.
by Iain Murray
Last week in his New York Times column, Paul Krugman cheeredApple’s introduction of the iPhone as an example of the Keynesian theory of how depressions end — through “use, decay, and obsolescence,” which provide the stimulus economies need to recover. He went on to suggest that government can do what Apple does by increasing spending. Continue reading →