Jun 292010
Patrick Barron rewrites the famed Keynesian equation as C + I + G = BALONEY and states: “Wrongheaded governmental interventions are preventing the world’s largest economies from recovering from massive malinvestment.”
Read his entire article here. It is a worthwhile, common sense approach that non-economists can appreciate.
Who but statists could not appreciate the following:
“The key fallacy embedded in Keynesian economics and the GNP equation is the idea that government spending adds to an economy’s health. In reality, the opposite is true: government spending subtracts from an economy’s health. The real economy is the private economy — there is no other. Government spending must come out of the private economy.”
More Signs of No Recovery
The State Against Blacks and Other People
Stupid Economists
Ben "John Law" Bernanke
Treasury Bonds Signaling Recovery or Armageddon?
[...] This post was mentioned on Twitter by Nick Campbell. Nick Campbell said: @Ilario_Pantano Keynesian Economics = Baloney http://bit.ly/dCAaAx [...]