TodaysBigFailÂ is a website and Facebook page devoted to videos of things going horribly wrong. Â I'm nominating the fatal flaws of Keynesian Economics as its next topic!
So here's more on the demonstrated bust of Keynesian (stimulus) economics, touched on in this morning's post. This from none other than the nonpartisan think tank RAND Corporation:Â Where Keynes Went Wrong.
The failure of the US government's massive stimulus actions is as plain as day to all with an open mind. We'll be paying for those colossal mistakes for years to come, and that's doing nothing but damage to the real estate and jobs markets.
That the Keynesian theory upon which they were based is fatally flawed is a lesson for all to remember, most notably economics professors, textbook authors, politicians, and voters. Â These diseconomic theories equating government spending and taxation with the merits of business investment and consumer spending have been taught, practiced, and sold like snake oil for far too long. Â Just sayin.'
P.S. Â Don't let the politicians talk you into jumping over anything on a BMX bike either!