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 The deathbed of Keynesian economics

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RR Phantom

RR Phantom

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The deathbed of Keynesian economics Vide
PostSubject: The deathbed of Keynesian economics   The deathbed of Keynesian economics Icon_minitimeWed Feb 24, 2010 1:59 am
The UK has produced notable economists over the years, but John Maynard Keynes, the guru of government intervention, was one of truly global significance.

So it may be fitting that the UK will also become the deathbed of Keynesian economics.

Britain has been following the mainstream prescriptions of his followers more than any developed nation. It has cut interest rates, pumped up government spending, printed money like crazy, and nationalised almost half the banking industry.

Short of digging Karl Marx out of his London grave, and putting him in charge, it is hard to see how the state could get more involved in the economy.

LNK
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