Government vs. Private Sector: Who Generates Wealth? - EP247
In this episode, Gene Tunny explores the relationship between government spending and wealth creation. He talks about President Obama’s memorable expression, “You didn’t build that”, and how economists think about the role of government and wealth creation. Gene discusses the roles of both the government and private sector in generating wealth and their impact on productivity, GDP and living standards.
If you have any questions, comments, or suggestions, please email us at contact@economicsexplored.com or send a voice message via https://www.speakpipe.com/economicsexplored.
What’s covered in EP247Dan Mitchell’s article on the impact of government spending on economic growth:
https://www.heritage.org/budget-and-spending/report/the-impact-government-spending-economic-growth
Dan’s article “OECD Economic Research Finds that Government Spending Harms Growth”
https://danieljmitchell.wordpress.com/2016/11/28/oecd-economic-research-finds-that-government-spending-harms-growth/
Episode on Alvin Hansen and Evsey Domar:
https://economicsexplored.com/2024/06/19/popularizing-keynes-how-alvin-hansen-and-evsey-domar-shaped-post-war-macroeconomics-ep245/
Episode on Thatcher:
https://economicsexplored.com/2020/12/06/ep64-adam-smith-margaret-thatcher-with-dr-eamonn-butler/
Bacon and Eltis’s 1978 book “Britain’s Economic Problem: Too Few Producers”:
https://link.springer.com/book/10.1007/978-1-349-15863-8
Lumo Coffee promotion
10% of Lumo Coffee’s Seriously Healthy Organic Coffee.
Website: https://www.lumocoffee.com/10EXPLORED
Promo code: 10EXPLORED
Full transcripts are available a few days after the episode is first published at www.economicsexplored.com.
Create your
podcast in
minutes
It is Free