Sunday, February 1, 2009
Keynesian economics is dead
Well, at least it should be. But the government rolls it out, year after year, teaching it in the schools and using it to "guide" us to prosperity. Well, we know how that's turned out. As Hans Herman-Hoppe stated in his The Misesian Case Against Keynes:
I will show that Keynes's new economics, like that "underworld" tradition, is nothing but a tissue of logical falsehoods reached by means of obscure jargon, shifting definitions, and logical inconsistencies intended to establish a statist, anti-free-market economic system.
Why is the U.S. economy in bad shape? Because of the Federal Reserve, its fiat currency, and devotion to Keynesian economics. When, and only when, we are able to free ourselves from paper money backed by nothing and the cranky economics of Keynes will we be able to return to true prosperity.
Posted by Christopher Scott
Christopher Scott teaches history and government at a college in Houston. He is passionate about life, liberty, and property and wants to help people learn about the ever-increasing growth and power of the coercive state.
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