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Monday, December 22, 2008

Who the Heck is Keynes, and Why Is he Being Resurrected Now?

One trillion dollars in stimulus spending. Bailout after bailout. Democrats and Republicans alike tout government spending as the solution to our economic woes. The old lament or cheer goes "we are all Keynesians now."

Who the heck was Keynes? What did he prescribe. That's what I address in this week's Heck-o-nomics?
So, this is the sort of man Keynes was. He was very bright and very confident that smart enough people of good will could solve the world’s problems as long as they were able to dismantle the prejudices of culture and control the behavior of the unwashed. And today we’re told that he is making a comeback, and that we are all Keynesians now. What the heck could that mean?

Read the whole thing here, at Culture11.

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