Strengthening Constitutional Self-Government

No Left Turns

Economy

Keynes dead in Europe

Britain "unveiled the country's steepest public spending cuts in more than 60 years, reducing costs in government departments by an average of 19 percent, sharply curtailing welfare benefits, raising the retirement age to 66 by 2020 and eliminating hundreds of thousands of public sector jobs in an effort to bring down the bloated budget deficit."  And then there is this, as a news story (also in today's NY Times): John Maynard Keynes "may live on in popular legend as the world's most influential economist. But in much of Europe, and most acutely here in the land of his birth, his view that deficit spending by governments is crucial to avoiding a long recession has lately been willfully ignored."  Amusing.
Categories > Economy

Discussions - 3 Comments

I am not laughing.

Get a job!

I think it's becoming clearer that government intervention in natural downturns is counterproductive. Like many ailments, it's best to weather the storm without crazy cures.

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