An economy is not a “blob” into which people pour money, the Keynesian view. It is an intricate combination of factors of production which individuals harness to meet the real needs of real people. It is a process constrained by the law of scarcity, which means that the workings of an economy — if individuals are permitted the freedom necessary to make it work — are going to be directed toward individual needs.  Factors used for one purpose cannot simultaneously be used for something else, and it matters that these scarce factors be directed properly. Unfortunately, the dominant thinking among professional and academic economists is that the economy is an empty tank into which one pours the fuel of money and magically it “creates jobs” and goods. This is as nonsensical as Aaron’s explanation to Moses that the Golden Calf simply rose out of a fire after he threw a bunch of gold jewelry into it.  The “stimulus” has not “saved” anything. It has been a huge misdirection of resources from things that would meet real-live individual needs to those things that meet the “needs” of politicians to be reelected. As I noted in an earlier column, where I live almost half a million dollars was spent rolling sod onto a narrow median strip on I-68 near my home, an unnecessary and wasteful project if ever one existed.  Our economy is moribund because for many years the government and the Federal Reserve misdirected resources into lines of production that never could be sustained. While the boom lasted, things seemed to be great, but it now is time to pay the piper. Unfortunately, the politicians and intellectuals seem to believe that the “solution” is even more wasteful spending.  Article by William Anderson at Campaign for Liberty. (link: http://www.campaignforliberty.com/article.php?view=361)