'..the structures of production within an economy are heterogeneous and can be distorted by government intervention through inflation and massive borrowing.'<blockquote>'Austrians such as Mises and Rothbard have well understood what Keynesians do not: the structures of production within an economy are heterogeneous and can be distorted by government intervention through inflation and massive borrowing. Far from being creatures that can “save” an economy, the Debt Fairy and the Inflation Fairy are the architects of economic disaster.'
- William Anderson,
Krugman’s Adventures in Fairyland, November 23, 2013</blockquote>
'..manufacturing .. Contrary to the impression given by GDP accounting .. is the sector of the economy with the largest share of total spending.'<blockquote>'To this it must be remembered that manufacturing is
de facto the largest sector of the economy in term of gross output. Contrary to the impression given by GDP accounting, this is the sector of the economy with the largest share of total spending. GDP excludes all stages of production that precede spending on final goods (although it does include investment in 'fixed' capital), and so fails to reflect a substantial share of economic activity. In short, the health of the manufacturing industry is far more important to the economy than is widely believed.'
- Acting Man,
'..the Empire State survey..', November 18, 2013</blockquote>
Context<blockquote>
'The use of GNP .. exaggerating the importance of consumption in the economy..''..inflation .. deflation..' - '..the role time plays..' - '..social interaction..''..the system as such is very rarely questioned..' - '..the widespread public ignorance of the functioning of the financial system.''..Like monetarists, Keynes held no capital theory .. the role time plays..' - Jesús Huerta de Soto'..technological innovation, and gains in productivity ..come from the private sector, not from the state.'</blockquote>
</blockquote>