In case you haven’t heard about Keynesian economics we will give you a quick tutorial. When the economy is weak Lord John Maynard Keynes recommended that the government print money; this would add a spark to the economic lethargy thereby stimulating the marketplace. Maybe it worked on a small scale, like a laboratory experiment, but more often that not when a full roll out occurred it went plunk.
For a little while things went smoothly, like a person who jumped off a 100 story building, everything was going good down to the second floor, then squash. The same with the voodoo Keynesian theory. We are now one floor away from total obliteration. Another word used to describe the Keynesian model was socialism. Much ink has been spilled touting the benefits of it, but when all is said and done, socialism has buried every country where it has been tried. When it ended, he dictators who were responsible for the implosion were in many cases dangling from the hangman’s noose.
An excellent read authored by philosopher Friedrich von Hayek is “The Road to Serfdom“, it lays out the premise that central planning leads to tyranny. So what else is new?
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