On this episode of The Federalist Radio Hour, Economist Donald J. Boudreaux joined host Ben Domenech to discuss the long-lasting economic impact of the government shutdown. Boudreaux is a Professor of Economics at George Mason University, and serves as a Senior Fellow at the Mercatus Center and The Fund for American Studies.
Boudreaux wrote an article earlier this week titled “Who is Making Decisions About Our Lives?” in which he outlined the limited knowledge American leaders have. The American people also don’t understand, he argued, the government’s decision to have the Federal Reserve print money doesn’t create actual wealth in the form of any goods and services.
“They don’t really understand how economies works. they don’t understand where wealth comes from. Wealth is not a stock of stuff that’s sitting out there in someone’s vault, or in Jeff Bezos’ basement. Wealth has to be produced, again and again, daily… At some point, when you block these processes, you can’t just restart them.”