Books. Bikes. Boomsticks.
"Democracy is the theory that the common people know what they want, and deserve to get it good and hard."
From what I can tell even Keynes wasn't what we would call a Keynesian today. He seemed to be more of a "whatever works" utilitarian sort of economist, and his suggestion of gov't "pump priming" deficit spending was a rather limited part of his economic philosophy. Naturally politicians interpret this as "Go ahead and spend your way into prosperity" because it's an easy sell to a gullible public.
The ironic thing is that these videos were essentially made by "Planet Money", an NPR program...I liked the first one too...
Loved the video, fantastic! The Hayek refutation of the wartime "prosperity" myth was brilliant. Thanks for posting, Tam!
The first one is here (Youtube)
Guess I was getting my hopes up when I saw "Keynes" kissing the mat. Should have known the fix was in...WV: wines. A little early...
SO MUCH WINThanks for posting it. :)
Very Entertaning, Tam.Thanks!
Okay, I concede that this is the coolest thing I have seen all month. Maybe even the whole year.
The war-time prosperity is a joke.1. The government was teetering on the edge of bankruptcy the entire war. 2. FDR finally did the right thing and died, Congress – even the Democrats - quickly cancelled the planned post-war New Deal 2.3. We bombed the infrastructure and production capabilities of our major rivals into oblivion.
There is a big data point against Keynes. We call it "The Great Depression." Soon it may be called "The First Great Depression."
THIS is how you teach the masses about Economics.Antibubba
That was one of the greatest things I've ever seen.WV: fumet - a stupid, brimless hat gasses wear.
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