The View From 1776
Saturday, November 07, 2009
Keynesian Economics is Intellectual Fraud
Keynes asserted that government spending on anything, however useless, would boost the economy and pull a nation out of economic recession. Well, it has not worked so far.
Keynesian-style stimulus spending, much of it going to non-productive special interest groups and government employees, has an unbroken record of prolonging recessions and impeding revival of private business, the generator of real, permanent jobs. In addition, deficit stimulus spending always adds to price inflation, thus robbing the voters of the value of their income and savings.