Where are the ’60s Hippies Now that They’re Needed to Fight Keynesianism?

by Dan Mitchell | Oct 6, 2010 | Big Government, Blogs, Economics, Government Spending

Keynesian economic theory is the social-science version of a perpetual motion machine. It assumes that you can increase your prosperity by taking money out of your left pocket and putting it in your right pocket. Not surprisingly, nations that adopt this approach do...

Obama’s Policy Failure, Part I

by Dan Mitchell | Oct 4, 2010 | Big Government, Blogs, Economics, Government Spending

Former Senator Phil Gramm had a column last week in the Wall Street Journal that deserves two blog posts. This first post highlights Gramm’s analysis showing that the U.S. has been very Keynesian compared to Europe, with numerous efforts to jump start the economy with...