Tag: Keynesian economics

Celebrating the Stimulus?

We are now five years into the passage of the heralded stimulus bill that was supposed to end all our economic woes. Is it time to celebrate yet? This whole “have-the-government-spend-more-money-and-prosperity-will-result” approach is nothing more than resurrected Keynesian theory. John Maynard Keynes was the economist who became the darling of those who sought to prime the pump of the economy by government expenditure. Richard Nixon, who at one point decided to impose wage-and-price controls on the private sector to resuscitate… Read more »

Ideology & the Height of Irresponsibility

I think the Obama inaugural is worth at least one more day’s commentary. But I’ll let the cartoonists carry most of the weight today. For instance, we all know the president takes his oath of office while putting his hand on the Bible. According to one cartoonist, perhaps this should have happened at that moment: It didn’t. God rarely makes such a dramatic gesture; He prefers we figure it out because, frankly, it shouldn’t be that hard. All one has… Read more »

Wrongheaded Economists . . . and Presidents Who Follow Them

Something happened the other day that has never happened before: when the president wanted to make a speech to a joint session of Congress, he met some resistance and had to change the date on which he wanted to speak. The White House scheduled his speech the same night as a Republican presidential debate at the Reagan Library. Spokesmen claim they didn’t intend to stomp on that event, but how believable is that? Really? House Speaker Boehner suggested President Obama… Read more »