Economic science-empirical data and economic history

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Your friend Sebastian has added what was the radio to the shambles that was the television. Oh well, with so much homework to do there is no time for television or radio! You find Sebastian in the office nook studying the computer screen. You look over his shoulder and see he has discovered Facebook, through which he scrolls with incredible speed, his eye moving in a circular pattern as he speed reads. Realizing you are with him he jumps with a start: "Oh earthling, finally, finally, maybe, just maybe, I have discovered truth!" You look back at ruble that was the television and radio and start thinking about the computer's future. "Earthling, look at this Facebook message. Lots of people have been re-posting it. It says ‘Everyone with half a brain knows - just knows - that if the government would reduce spending on everything - everything - except military spending, the deficit would be reduced thus stimulating the economy and creating full employment.' And look, you can make this true by clicking like!"

Use some economic science, empirical data and economic history to better help Sebastian understand the veracity of this Facebook message.

Reference no: EM131069610

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