Jun 262010
The Failure of Keynesian Economics
by Steven KatesThat anyone can still believe Keynes’s General Theory holds any answers to the world’s economic problems is one of those sad facts that make one realize just how difficult it is to gain headway in the dismal science. An article on John Maynard Keynes in the Washington Post late last year, which argued that “Keynes’s work on the Great Depression was remarkably relevant to the dilemma Bush and Greenspan face now,” is a reminder of just why our economic difficulties seem to multiply rather than diminish.
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