• Keynes Must Die

    By Llewellyn H. Rockwell, Jr.

    May 23, 2016

    In 2012, Barack Obama warned that the United States would fall into a depression if Ron Paul’s plan to cut $1 trillion from the federal budget were enacted.

    Wait, I beg your pardon. It wasn’t Obama who warned that budget cuts would lead to a depression.

    It was Mitt Romney.

    Romney went on to become the nominee of the self-described free-market party.

    An ideological rout is complete when both sides of respectable opinion take its basic ideas for granted. That’s how complete the Keynesian victory has been.


    Continued...

    https://www.lewrockwell.com/2016/05/lew-rockwell/keynes-must-die/


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    Comments 8 Comments
    1. Smaulgld's Avatar
      Smaulgld -
      Tom woods did a list of where the progressives have taken over- its everywhere from business, to college, to government you name it
    1. Ronin Truth's Avatar
      Ronin Truth -
      Quote Originally Posted by Smaulgld View Post
      Tom woods did a list of where the progressives have taken over- its everywhere from business, to college, to government you name it
      That presents the CONservatives with some uncomfortable status quo turf to have to defend.
    1. PierzStyx's Avatar
      PierzStyx -
      The real problem is that there was nothing special about Keynes. He just gave pseudo-scientific jargon to veneer the same old power politics and servitude economics that had been in play for millenia. Kill Keynes and another will just take his place.
    1. Korean libertarian's Avatar
      Korean libertarian -
    1. Ronin Truth's Avatar
      Ronin Truth -
      Quote Originally Posted by PierzStyx View Post
      The real problem is that there was nothing special about Keynes. He just gave pseudo-scientific jargon to veneer the same old power politics and servitude economics that had been in play for millenia. Kill Keynes and another will just take his place.
      I choose Rothbard.
    1. Madison320's Avatar
      Madison320 -
      The semi good news is that you reach a point where Keynesian solutions are no longer an option. That point is when you can no longer borrow or print or raise taxes. I think I read an article by Krugman about Greece where he actually sounded like an Austrian. I think he said Greece is in trouble because they spent too much. That's because Krugman knows the usual Keynesian remedies are impossible for Greece. Basically Keynesian policy is to print and borrow and tax until the whole thing collapses. At that point they have no solutions.

      P.S. I just read an article today that sounds like Greece got another bailout. So they haven't quite run out of other people's money.
    1. Ronin Truth's Avatar
      Ronin Truth -
      "There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." -- John Maynard Keynes
    1. Matt Collins's Avatar
      Matt Collins -
      Keynes looks like a pretty fun guy.... at least until he runs out of other people's money:





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