by Dan Mitchell | Mar 28, 2021 | Big Government, Blogs, Economics, Government Spending, Keynesian
According to data on jobs and growth, President Obama’s so-called stimulus was a failure. But at least politicians and bureaucrats were able to concoct new and clever ways to waste money. Including research grants to interview people about their sexual...
by Dan Mitchell | Jan 4, 2021 | Big Government, Blogs, Economics
Trump was a big spender before coronavirus and he became an even-bigger spender once the pandemic began. But the White House generally didn’t add insult to injury by citing Keynesian economic theory to justify the president’s profligacy . Prior to the pandemic, the...
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 | 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...
by Dan Mitchell | Apr 1, 2020 | Big Government, Blogs, Economics, States, Taxation
The crowd in Washington has responded to the coronavirus crisis with an orgy of borrowing and spending. The good news is that the legislation isn’t based on the failed notion of Keynesian economics (i.e., the belief that you get more prosperity when the government...
