Four Fallacies of the Second Great Depression by Robert Skidelsky

Esteemed economist Robert Skidelsky debunks 4 fallacies extolled by proponents the current economic consensus.

* Lesson of the thrifty Swabian Housewife
* The government cannot spend money it does not have
* The national debt is deferred taxation
* The national debt is a burden on future generations

And a classic Skidelsky quote to close.

"We can learn from the experience of the 1930’s. A rising tide lifts all boats; a receding one ignites a Hobbesian war of each against all."