The economy is a mess. Various politicians – including President-elect Barack Obama – and some economists argue that the way to get the economy moving again – or to “stimulate” the economy – is through more government spending.
Does this make any sense? Of course not. Yet, we hear it day after day.
The idea was brought to us during the Great Depression by economist John Maynard Keynes. Keynesianism didn’t work during the Great Depression, nor at any other time.
Check out the latest video from the Center for Freedom and Prosperity titled “Keynesian Economics Is Wrong: Bigger Government Is Not Stimulus.” In the video, economist Dan Mitchell sets the record straight on misguided Keynesian economics.
Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council
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