Home / Education / How the Keynesians Won . . . And Will Lose
Print Friendly and PDF
Print Friendly and PDF

Posting Policy:
We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse. Read more.

6 thoughts on “How the Keynesians Won . . . And Will Lose

  1. profitup10 says:

    Why do they not read Keynes own words . . I debated this with a PhD B of A senior VP teaching econ . . he did not like me much but he finally yielded – GOVERNMENT PROPENSITY TO SPEND . . do not work and here is where Keynes denounced his own theory.

    After the war, Keynes continued to represent the United Kingdom in international negotiations despite his deteriorating health. He succeeded in obtaining preferential terms from the United States for new and outstanding debts to facilitate the rebuilding of the British economy.[54]

    Just before his death in 1946, Keynes told Henry Clay, a professor of Social Economics and Advisor to the Bank of England [55] of his hopes that Adam Smith's 'invisible hand' can help Britain out of the economic hole it is in: "I find myself more and more relying for a solution of our problems on the invisible hand which I tried to eject from economic thinking twenty years ago." [56]

  2. Interesting and thought provoking article. You allude to this in mainy places, but I’ll come right out and say it. Even if (though) Keynesian economics is an abject failure in the real world for a majority of the people (at least the productive ones), big government would still persue it because Keynesian benefits fall on those in power and their cronies. The benefits of Austrian Economics fall on the productive classes. So bloated government will always favor Keynesian economics regardless of the real world consequences. The only way that will change is if the productive classes also are the ones in power. Why they are not is another mystery to be solved.

  3. profitup10 says:

    Your post is valid – Keynes theory is like Global warming it gives power to the Government agencies. They know it is not true but emotions are easy to move and government free stuff and E=GREEN energy looks free [solar]. The public is just not very well educated.

    This Project can end the Agencies of alphabets like IRS, DOC, and grant science.

  4. Let's go back to the base definition of Keynesianism: "the view that in the short run, especially during recessions, economic output is strongly influenced by aggregate demand (total spending in the economy)."

    This recession, and arguably ALL recessions, has proven that without spending by either the populace as a whole (who had little money to spend) or the government (via these so-called "sequesters"), the economy withdraws on itself and shrinks, causing cost-cutting and job losses. Increased spending by the populace or the government gets money moving in the system again, providing job growth and a boost to the economy.

    Just face it. These are proven facts. It's Economics 101. All the money in the hands of a few – with the money not moving anywhere – destroys economies.

  5. Just face it. you're an idiot. Have a nice day.

  6. oldtimered says:

    Like Martin Luther before his death, are you saying Keynes realized the evil men and especially governments did evil with his thoughts. Keynes has destroyed millions of lives and the future of the West.. Luther opened the door for the German government to take over faith. They murdered thousands and even invaded Italian villages and murdered all there, based on this new idea of government faith. Luther was then powerless to stop the government and did drink a bit before he passed away. How many will drink a bit after they realiize they voted for and supported the corruption of an evil influence in the White House and government. Pray ro the USA.