Mark W. Hendrickson wrote a piece on Keynesian Economics in American Thinker today. It is an excellent read for fans or opponents of Keynes. Even better for those who want to learn, or refresh, some economics.
In the piece he discusses the following four topics:
- 1) Thralldom to the Keynesian macro-economic paradigm.
- 2) Blindness to history.
- 3) An enormous faith in government competence.
- 4) Dangerous assumptions about the capital markets.
Hendrickson concludes with the following:
“Stimulus plans haven’t worked, won’t work, and we can’t afford them. We are already in great economic danger from deficit spending. A policy to plunge us even deeper into the debt abyss is kamikaze economics.”
Related articles by Zemanta
- Deathbed of Keynesian Economics Will Be in U.K. (yzerfonteinchronicles.blogspot.com)
- Keynesian Economics: Why Krugman and DeLong Need to Read More Carefully (seekingalpha.com)
- On Display in the UK: The Failure of Keynesian Economics (dailyreckoning.com)
- The Deathbed of Keynesian Economics (lewrockwell.com)
- Sheldon Filger: Keynesian Economics Dissected: Deficits and John Maynard Keynes (huffingtonpost.com)