L'Etat, c'est la grande fiction à travers laquelle tout le monde s'efforce de vivre aux dépens de tout le monde. Frédéric Bastiat

vendredi 13 mars 2009

Multiplicateur pour rire

Le Wall Street Journal démonte le "multiplicateur" keynésien en une formule lapidaire:
While he's in the U.K., perhaps Mr. Geithner should also ask his European counterparts whether any of them have ever seen a 1.5 Keynesian "multiplier" in the wild. That's the idea -- promoted by Mr. Summers -- that every $1 of deficit spending yields $1.5 in economic growth. If that were true, Italy would be the richest country in Europe, instead of merely one of the most indebted.