Saturday, August 7, 2010

The government is God! - Keynesian Economics.

Dave Breese in 7 Men who Rule the World from the Grave (p. 196-197):

It may well be said that the philosophy Keynes brought to the center of the world's thinking could be summed up in the maxim "The government has all the answers." Keynes thought he had proved that government intervention would move the economy; government guarantees would stabilize the banks; government protection would satisfy the labor unions; government regulation would stabilize the transportation, travel, the media, housing, mortages, pension funds, and retirement plans; and a thousand other things in which the government is now called upon to produce stability.
[. . .]
That the government is God! That is Keynesian Economics.
[. . .]
Someone is reported to have asked Keynes, "Yes this appears to work in the short term, but what about the long term consequences?" Keynes's famous answer was, "In the long term we are all dead."


That's Keynesian economics in a nut shell; as being applied by nuts in Washington who have nothing left inside their shell.

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