goal
noun
the object of a person’s ambition or effort; an aim or desired result
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I bring up these points to note that full employment in itself is NOT an appropriate “goal” for an economy. Furthermore, I would say that “economies” do not have “goals.” Instead, individuals have goals. An economy is a mechanism by which individuals produce and distribute things that help to meet their needs, in which individuals participate as part of their own means-ends frameworks.
The question we should ask is this: Why are there impediments to individuals being able to engage in those things which help us to meet our goals? If you are wondering why this is so, try starting your own business to make goods or provide services that others might want, and you will find that government provides a large number of barriers.
An excerpt from “Bob Murphy Takes on Krugman’s History and Krugman’s Curious Definition of Prosperity” by William L. Anderson.
This is an excellent blog in which the author consistently and quite specifically counters all the Keynesian rubbish being spewed from the ruling classes’ official orifice, Paul Krugman.
