Keynesian Economics Explained

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.”

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4 Comments

  1. please send me your essay on Keynes that was referenced in the AT article in the first para.

    i tried your web site here and can’t find the right click.

    i think your writing is great and appreciate reading anyone who understands how idiotic keynesian theories are–but how they are corrupting because they play to the politician’s sense of their own importance. particularly dangerous proposition to tell a politician he is important, then he wants to act on it, and grwos the gov.

    1. There are several posts on Keynes/Keynesianism. I am sorry the link does not connect you to whichever one you want. That sometimes occurs on my site. If you know the title, search for it in the Search box at upper right. If not, search on Keynes from this box. This will enable you to find all references to Keynes. Or you might try the menu category Economics and the sub-menu Keynesian. Sorry for the inconvenience. Hope this solves your problem. If not, contact me.

      Monty

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