by Dan Mitchell | Sep 27, 2020 | Big Government, Blogs, Economics, Government Spending, Keynesian
I’ve previously written that Keynesian economics is like Freddy Kreuger. No matter how many times it is killed off by real-world evidence, it comes back to life whenever a politician wants to justify a vote-buying orgy of new spending. And there will always be...
by Dan Mitchell | Sep 16, 2020 | Blogs, Economics, Keynesian
Regular readers know that I give Trump mixed grades on economic policy. He gets good marks on issues such as taxes and regulation, but bad marks in other areas, most notably spending and trade. Which is why I’ve sometimes asserted that there has been only a small...
by Dan Mitchell | Aug 14, 2020 | Big Government, Blogs, Economics, Government Spending, Keynesian
Last week, I shared some data showing how the economy enjoyed a strong recovery from recession in the early 1920s when President Warren Harding cut government spending. (And these were genuine cuts, not the nonsense we get from today’s politicians, who claim they’ve...
by Dan Mitchell | Aug 6, 2020 | Big Government, Blogs, Economics, Government Spending, Keynesian
We did not get good policy during the economic crisis of the 1930s. Indeed, it’s quite likely that bad decisions by Herbert Hoover and Franklin Roosevelt deepened and lengthened the Great Depression. Likewise, George Bush and Barack Obama had the wrong responses...
by Dan Mitchell | Jun 12, 2020 | Blogs, Economics
There’s much to dislike about Keynesian economics, most notably that it tells politicians that their vice – buying votes by spending other people’s money – is somehow a virtue. Advocates of Keynesianism also can be very simplistic, sometimes falling victim to the...
