Keynesian Economics = Baloney

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.”

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