Banker and Drug Dealer Economic Stimulus

Dean BakerMarketplace radio says that we should be happy for those big Wall Street bonuses because they lead to more spending and job creation. Of course spending by the Wall Street boys creates jobs, but the same is true of spending by drug dealers and bank robbers. It is a bit peculiar that a news show would try to use this fact as a justification for bonuses that arguably stem from rent-seeking activity that provides no benefit to the economy.

—Dean Baker
Marketplace Radio Says We Need Wall Street Bankers to Spend Money

0 thoughts on “Banker and Drug Dealer Economic Stimulus

  1. Totally mental. This is unbelievable retardation. All banker bonuses shod be based on long term proven results not short term bullshit efforts that in the long run are nothing but toxic. If you want more money in circulation via retarded behaviour then cut all banker bonuses and give the lay man more cash for clunkers. Let the layman get some joy before the inevitable long term pain caused by printing dosh

  2. @JMF – I mostly agree with you. But you might go easy on the long term debt rhetoric. Money supply really doesn’t work that way.

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