Based on a theory known as Keynesianism, politicians are resuscitating the notion that more government spending can stimulate an economy. This mini-documentary produced by the Center for Freedom and Prosperity Foundation examines both theory and evidence and finds that allowing politicians to spend more money is not a recipe for better economic performance.
[…] the thrust of Milbank’s column is wrong. He is wrong in claiming that Keynesian economics works, and he is wrong is claming that it is the only option. Regarding the first point, there is no […]
[…] the thrust of Milbank’s column is wrong. He is wrong in claiming that Keynesian economics works, and he is wrong is claming that it is the only option. Regarding the first point, there is no […]
[…] 6, 2010 by Dan Mitchell 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 […]
[…] 6, 2010 by Dan Mitchell 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 […]
[…] 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 […]
[…] the thrust of Milbank’s column is wrong. He is wrong in claiming that Keynesian economics works, and he is wrong is claming that it is the only option. Regarding the first point, there is no […]
[…] always been more concerned about the negative economic impact of government spending and the failure of Keynesian fiscal policy, but it’s also important to focus on waste and fraud. The average taxpayer may not want to […]
[…] always been more concerned about the negative economic impact of government spending and the failure of Keynesian fiscal policy, but it’s also important to focus on waste and fraud. The average taxpayer may not want to get […]
[…] understandably fond of my video exposing the flaws of Keynesian stimulus theory, but I think my former intern has a great contribution to the debate with this new 5-minute […]
[…] understandably fond of my video exposing the flaws of Keynesian stimulus theory, but I think my former intern has an excellent contribution to the debate with this new 5-minute […]
[…] understandably fond of my video exposing the flaws of Keynesian stimulus theory, but I think my former intern has an excellent contribution to the debate with this new 5-minute […]
[…] understandably fond of my video exposing the flaws of Keynesian stimulus theory, but I think my former intern has an excellent contribution to the debate with this new 5-minute […]
[…] didn’t think it was possible, but he has outdone himself with another bizarre embrace of Keynesian economics. Yesterday, without irony, he wrote, “we would see a bigger boost in spending and hence […]
[…] I’ve written extensively about the flaws of Keynesian economics, and I’ve even narrated a video on the flaws of Keynesian theory. […]
[…] That being said, the economic flaw of school construction spending-cum-stimulus is that government spending must be financed with either taxes or borrowing, both of which divert resources from the productive sector of the economy. Simply stated, Keynesian spending does not work. […]
[…] video from Dan Mitchell gives a simple explanation of why keynesian economic theory is inherently flawed. Basically, […]
[…] understandably fond of my video exposing the flaws of Keynesian stimulus theory, but I think my former intern has an excellent contribution to the debate with this new 5-minute […]
[…] people from Intelligence Squared will post a video of the debate. In the meantime, you can watch this video of me debunking Keynesian economics and this video eviscerating Obama’s faux stimulus. Rate this: Share […]
[…] That's some scary stuff, and I for one am very much afraid of those ghosts, because that is what Keynesianism is all about, and we are being haunted, robbed and beaten up by it to this day. But even that […]
[…] Alaghebandian of the America Enterprise Institute, debunks this notion, while also explaining that Keynesian economics is flawed because it misinterprets the role of consumer […]
[…] making bad predictions. After all, economists are lousy forecasters. I blame him for peddling the silly Keynesian theory that bigger government boosts economic performance. Rate this: Share this:PrintEmailFacebookTwitterMoredeliciousDiggFarkLinkedInRedditStumbleUponLike […]
[…] But it’s important to understand that I’m not blaming him for making bad predictions. After all, economists are lousy forecasters. I blame him for peddling the silly Keynesian theory that bigger government boosts economic performance. […]
[…] the way, if you want to understand in greater detail why the cartoon is accurate, this video on Keynesian economics is helpful, as is this video explaining the failure of Obama’s $1 trillion boondoggle. Rate […]
[…] For more information on this issue, here’s my take on Keynesianism. […]
[…] may have noticed, by the way, that this post does not include any of the videos about Keynesian economics or Obama’s stimulus. That’s an entirely different issue, perhaps best described as […]
[…] would never rise above 8 percent if we squandered $800 billion on a faux stimulus package based on Keynesian economics. But I’m a nice guy, so I chose not to raise that issue. Rate this: Share […]
[…] would never rise above 8 percent if we squandered $800 billion on a faux stimulus package based on Keynesian economics. But I’m a nice guy, so I chose not to raise that […]
[…] Just in case any politicians are reading this post, I’ll make a point that normally goes without saying: Borrowing money from one group of people and giving it to another group of people does not increase …. […]
[…] Just in case any politicians are reading this post, I’ll make a point that normally goes without saying: Borrowing money from one group of people and giving it to another group of people does not increase …. […]
[…] Just in box any politicians are reading this post, I’ll make a point that routinely goes but saying: Borrowing income from one organisation of people a…. […]
[…] Just in case any politicians are reading this post, I’ll make a point that normally goes without saying: Borrowing money from one group of people and giving it to another group of people does not increase …. […]
[…] Just in case any politicians are reading this post, I’ll make a point that normally goes without saying: Borrowing money from one group of people and giving it to another group of people does not increase …. […]
[…] over and over again while expecting different results. This certainly is a good description of Keynesians, who relentlessly push more government spending as some sort of magic potion for the economy […]
[…] over and over again while expecting different results. This certainly is a good description of Keynesians, who relentlessly push more government spending as some sort of magic potion for the economy […]
[…] over and over again while expecting different results. This certainly is a good description of Keynesians, who relentlessly push more government spending as some sort of magic potion for the economy – […]
[…] over and over again while expecting different results. This certainly is a good description of Keynesians, who relentlessly push more government spending as some sort of magic potion for the economy – […]
[…] elite defines “austerity”) against proponents of higher spending (notwithstanding a long track record of failure, the Keynesians have come out of woodwork and are claiming that bigger government stimulates […]
[…] over and over again while expecting different results. This certainly is a good description of Keynesians, who relentlessly push more government spending as some sort of magic potion for the economy […]
[…] political elite defines “austerity”) against proponents of higher spending (notwithstanding a long track record of failure, the Keynesians have come out of woodwork and are claiming that bigger government stimulates […]
[…] of my work on government stimulus focuses on economic theory and […]
[…] of my work on government stimulus focuses on economic theory and […]
[…] I’ve written extensively about the flaws of Keynesian economics, and I’ve even narrated a video on the flaws of Keynesian theory. […]
[…] his guns-n-butter Keynesianism, it’s no big surprise that LBJ ranks last. And “W” also gets a very low […]
[…] his guns-n-butter Keynesianism, it’s no big surprise that LBJ ranks last. And “W” also gets a very low […]
[…] his guns-n-butter Keynesianism, it’s no big surprise that LBJ ranks last. And “W” also gets a very low […]
[…] his guns-n-butter Keynesianism, it’s no big surprise that LBJ ranks last. And “W” also gets a very low […]
[…] so-called stimulus was adopted. But as you can see from the chart, squandering $800 billion on a Keynesian package hasn’t […]
[…] so-called stimulus was adopted. But as you can see from the chart, squandering $800 billion on a Keynesian package hasn’t […]
[…] so-called stimulus was adopted. But as you can see from the chart, squandering $800 billion on a Keynesian package hasn’t […]
[…] sounds like an excuse for more Keynesian spending as part of another so-called stimulus plan, but Summers claims to have a much more modest goal of […]
[…] sounds like an excuse for more Keynesian spending as part of another so-called stimulus plan, but Summers claims to have a much more modest goal of […]
[…] the weak economy as an excuse to further expand the burden of government spending in hopes that Keynesian economics would magically work (after failing for Hoover and Roosevelt in the 1930s, Japan in the 1990s, Bush […]
[…] the weak economy as an excuse to further expand the burden of government spending in hopes that Keynesian economics would magically work (after failing for Hoover and Roosevelt in the 1930s, Japan in the 1990s, Bush […]
[…] the weak economy as an excuse to further expand the burden of government spending in hopes that Keynesian economics would magically work (after failing for Hoover and Roosevelt in the 1930s, Japan in the 1990s, Bush […]
[…] weak economy as an excuse to further expand the burden of government spending in hopes that Keynesian economics would magically work (after failing for Hoover and Roosevelt in the 1930s, Japan in the […]
[…] the weak economy as an excuse to further expand the burden of government spending in hopes that Keynesian economics would magically work (after failing for Hoover and Roosevelt in the 1930s, Japan in the 1990s, Bush […]
[…] the weak economy as an excuse to further expand the burden of government spending in hopes that Keynesian economics would magically work (after failing for Hoover and Roosevelt in the 1930s, Japan in the 1990s, Bush […]
[…] the weak economy as an excuse to further expand the burden of government spending in hopes that Keynesian economics would magically work (after failing for Hoover and Roosevelt in the 1930s, Japan in the 1990s, Bush […]
[…] also worth noting that Keynesian spending didn’t work for Hoover and Roosevelt back in the 1930s, and Laffer and Moore also explain how […]
[…] you want to understand more about Keynesian economics and why it doesn’t work, this video will be more instructive than my food fight with […]
[…] Regardless of what Obama says, you will always have to unravel his fictional narrative. While he claims to have a “laser focus” on jobs, he also admits he sometimes forgets the impact of the recession. Todays walkaway: Regardless of his swag, the record show that the programs Obama has put in place have failed. Keynesianism doesn’t work, never has worked, and never will work. […]
[…] Mitchell of the Cato Institute produced this short video. It is a concise, clear description of the Keynesian government stimulus strategy for economic […]
[…] I imagine that moronic advocates of Keynesian economics will argue that the $15 billion-$38 billion is a form of stimulus that will percolate through the […]
[…] I imagine that moronic advocates of Keynesian economics will argue that the $15 billion-$38 billion is a form of stimulus that will percolate through the […]
[…] people by implying they want irresponsible policies, even though the Hollande’s views about Keynesian economics and soak-the-rich taxation are basically identical to the nonsense Summers was peddling while in […]
[…] French people by implying they want irresponsible policies, even though the Hollande’s views aboutKeynesian economics and soak-the-rich taxation are basically identical to the nonsense Summers was peddling while in […]
[…] The left’s economic position today is that we have to spend our way to riches. The theoretical justification for this position is Keynesianism. But history has not been kind to Keynes’s theory. Nor has logic. […]
[…] crowd in Washington was quite confident that Keynesian spending was going to save the day, even though similar efforts had failed for Hoover and Roosevelt in the […]
[…] crowd in Washington was quite confident that Keynesian spending was going to save the day, even though similar efforts had failed for Hoover and Roosevelt in the […]
[…] crowd in Washington was quite confident that Keynesian spending was going to save the day, even though similar efforts had failed for Hoover and Roosevelt in the […]
[…] crowd in Washington was quite confident that Keynesian spending was going to save the day, even though similar efforts had failed for Hoover and Roosevelt in the […]
[…] crowd in Washington was quite confident that Keynesian spending was going to save the day, even though similar efforts had failed for Hoover and Roosevelt in the […]
[…] would never rise above 8 percent if we squandered $800 billion on a faux stimulus package based on Keynesian economics. But I’m a nice guy, so I chose not to raise that […]
[…] I imagine that moronic advocates of Keynesian economics will argue that the $15 billion-$38 billion is a form of stimulus that will percolate through the […]
[…] other words, Krugman’s Keynesian theory was completely wrong. The economy should have boomed in 2008 and suffered a recession beginning in 2009. Instead, the […]
[…] government spending create jobs? This is the discredited Keynesian notion that you become richer by switching money from your right pocket to left pocket, and I explain that […]
[…] was reduced, and that was when the economy began to grow again. In other words, Krugman’s Keynesian theory was completely wrong. The economy should have boomed in 2008 and suffered a recession beginning in 2009. Instead, the […]
[…] was reduced, and that was when the economy began to grow again. In other words, Krugman’s Keynesian theory was completely wrong. The economy should have boomed in 2008 and suffered a recession beginning in 2009. Instead, the […]
[…] run across very few good cartoons about Keynesian economics. If my aging memory is correct, I’ve only posted two of […]
[…] run across very few good cartoons about Keynesian economics. If my aging memory is correct, I’ve only posted two of […]
[…] political elite defines “austerity”) against proponents of higher spending (notwithstanding a long track record of failure, the Keynesians have come out of woodwork and are claiming that bigger government stimulates […]
[…] Some folks say they want “austerity,” but that’s largely a code word for higher taxes. They’re fighting against the people who say they want “growth,” but that’s generally a code word for more Keynesian spending. […]
[…] Some folks say they want “austerity,” but that’s largely a code word for higher taxes. They’re fighting against the people who say they want “growth,” but that’s generally a code word for more Keynesian spending. […]
[…] people by implying they want irresponsible policies, even though the Hollande’s views about Keynesian economics and soak-the-rich taxation are basically identical to the nonsense Summers was peddling while in […]
[…] Some folks say they want “austerity,” but that’s largely a code word for higher taxes. They’re fighting against the people who say they want “growth,” but that’s generally a code word for more Keynesian spending. […]
[…] Just in case any politicians are reading this post, I’ll make a point that normally goes without saying: Borrowing money from one group of people and giving it to another group of people does not increase …. […]
[…] we finally all agree that Keynesian economics is a flop? The politicians in Washington flushed about $800 billion down the toilet and we got nothing in […]
[…] we finally all agree that Keynesian economics is a flop? The politicians in Washington flushed about $800 billion down the toilet and we got nothing in […]
[…] we finally all agree that Keynesian economics is a flop? The politicians in Washington flushed about $800 billion down the toilet and we got nothing in […]
[…] Mitchell, who writes the International Liberty blog, agrees. Here’s a video he made that spells it out. Share this:PrintEmailDiggShare on […]
[…] government spending create jobs? This is the discredited Keynesian notion that you become richer by switching money from your right pocket to left pocket, and I explain that […]
[…] we finally all agree that Keynesian economics is a flop? The politicians in Washington flushed about $800 billion down the toilet and we got nothing in […]
[…] Keynesian spending policies and class-warfare tax policies have produced dismal economic performance, with unemployment stuck above 8 percent – even though the White House promised the joblessness rate by this point would be about 5.5 percent if we squandered $800 billion-plus on the so-called stimulus. […]
[…] over and over again while expecting different results. This certainly is a good description of Keynesians, who relentlessly push more government spending as some sort of magic potion for the economy – […]
[…] like I did after Richard Epstein and I lost the Keynesian stimulus debate in New York City (you can click here to see why we should have prevailed!). Rate this:Share […]
[…] like Mr. Fujii should become friends with the Obama Administration officials who relied on Keynesian economic theory to concoct an infamous prediction that unemployment would never rise above 8 percent if Washington […]
[…] with the very first policy-oriented post on this blog, I’ve been criticizing Keynesian economics, usually with lots of cheering and support from […]
[…] the end of our interview, I obviously disagreed with Jared’s embrace of the Keynesian fantasy that more government spending magically increases growth. If I was feeling mean, I could have […]
[…] I’ve written extensively about the flaws of Keynesian economics, and I’ve even narrated a video on the flaws of Keynesian theory. […]
[…] They think low-income people will benefit because of the magic of Keynesian economics – i.e., beneficiaries will have more income, which will then get spent, thus stimulating the […]
[…] people by implying they want irresponsible policies, even though the Hollande’s views about Keynesian economics and soak-the-rich taxation are basically identical to the nonsense Summers was peddling while in […]
[…] He promised unemployment would never climb above 8 percent if Congress squandered $800 billion on a Keynesian stimulus scheme. […]
[…] They think low-income people will benefit because of the magic of Keynesian economics – i.e., beneficiaries will have more income, which will then get spent, thus stimulating the […]
[…] hope, by the way, that neither Hubbard nor Swagel made the Keynesian argument that tax cuts are pro-growth because “they put money in people’s pockets.” […]
[…] hope, by the way, that neither Hubbard nor Swagel made the Keynesian argument that tax cuts are pro-growth because “they put money in people’s pockets.” Leonhardt […]
[…] the report even includes Keynesian policy, stating that “…budget cuts should start gradually so they don’t interfere with the […]
[…] also got to take a jab at the failed Keynesian stimulus. And I explained that big government facilitates corruption and that excessive government […]
[…] also not a fan of bigger government in the short run, which is what we get from Keynesian economics and so-called […]
[…] narrated a video on why Keynesian economics is bad theory, I’ve also narrated a video specifically debunking Obama’s failed stimulus, and […]
[…] narrated a video on why Keynesian economics is bad theory, I’ve also narrated a video specifically debunking Obama’s failed stimulus, and I’ve put […]
[…] narrated a video on why Keynesian economics is bad theory, I’ve also narrated a video specifically debunking Obama’s failed stimulus, and […]
[…] narrated a video on why Keynesian economics is bad theory, I’ve also narrated a video specifically debunking Obama’s failed stimulus, and […]
[…] narrated a video on why Keynesian economics is bad theory, I’ve also narrated a video specifically debunking Obama’s failed stimulus, and […]
[…] And the main achievement of his first year was the so-called stimulus, which was based on the same Keynesian theory that a nation can become richer by switching money from one pocket to another. …Obama did […]
[…] de sa première année de mandat a été la prétendue relance, toujours fondée sur la même théorie keynésienne qui dit qu’une nation ne peut s'enrichir qu’en faisant transiter l’argent d'une poche à […]
[…] He promised unemployment would never climb above 8 percent if Congress squandered $800 billion on a Keynesian stimulus scheme. […]
[…] is more than 2-1/2 percentage points higher than Obama claimed it would be if we implemented his Keynesian […]
[…] is more than 2.5 percentage points higher than Obama claimed it would be if we implemented his Keynesian […]
[…] is more than 2-1/2 percentage points higher than Obama claimed it would be if we implemented his Keynesian […]
[…] get any political benefit from having flushed $800 billion down the drain on a bunch of Keynesian […]
[…] didn’t get any political benefit from having flushed $800 billion down the drain on a bunch of Keynesian […]
[…] originally included an explanation of why the CBO estimate is flawed because of Keynesian methodology, but those sentences fell victim to space constraints. Nonetheless, it’s worth noting that […]
[…] originally included an explanation of why the CBO estimate is flawed because of Keynesian methodology, but those sentences fell victim to space constraints. Nonetheless, it’s worth noting that even […]
[…] all intents and purposes, the CBO has a slavish devotion to Keynesian theory in the short run, which means more spending supposedly is good for growth. But CBO also believes […]
[…] all intents and purposes, the CBO has a slavish devotion to Keynesian theory in the short run, which means more spending supposedly is good for growth. But CBO also believes […]
[…] his guns-n-butter Keynesianism, it’s no big surprise that LBJ ranks last. And “W” also gets a very low […]
[…] Obama’s class-warfare fire, by contrast, is nothing but bad news. The tax increases might not be as large in the short run, but they would be designed to impose maximum damage on the economy. And the sequester would disappear. Indeed, Obama’s actually demanding more Keynesian stimulus! […]
[…] Obama’s class-warfare fire, by contrast, is nothing but bad news. The tax increases might not be as large in the short run, but they would be designed to impose maximum damage on the economy. And the sequester would disappear. Indeed, Obama’s actually demanding more Keynesian stimulus! […]
[…] terminations or real entitlement reform. Heck, Obama even proposed more spending for additional Keynesian faux stimulus. Republicans will be laughingstocks if they get […]
[…] terminations or real entitlement reform. Heck, Obama even proposed more spending for additional Keynesian faux stimulus. Republicans will be laughingstocks if they get […]
[…] understandably partial to my video debunking Keynesian economics, and I think this Econ 101 video from the Center for Freedom and Prosperity does a great job of […]
[…] understandably partial to my video debunking Keynesian economics, and I think this Econ 101 video from the Center for Freedom and Prosperity does a great job of […]
[…] understandably partial to my video debunking Keynesian economics, and I think this Econ 101 video from the Center for Freedom and Prosperity does a great job of […]
[…] Isn’t that just wonderful. The politicians justified a corrupt form of intervention by citing the crackpot theory of Keynesian economics. […]
[…] guess is as good as mine, but Portugal’s leaders already have acknowledged that Keynesian fiscal policy is ineffective. Perhaps they’ve gotten to the point where they realize punitive tax systems also are […]
[…] guess is as good as mine, but Portugal’s leaders already have acknowledged that Keynesian fiscal policy is ineffective. Perhaps they’ve gotten to the point where they realize punitive tax systems also are […]
[…] Some folks say they want “austerity,” but that’s largely a code word for higher taxes. They’re fighting against the people who say they want “growth,” but that’s generally a code word for more Keynesian spending. […]
[…] I don’t think that’s the case. I fear Bernanke is in over his head and that the Fed is engaging in the monetary version of Keynesian economics. […]
[…] gouvernement portugais a déjà reconnu que les politiques budgétaires keynésiennes sont inefficaces. Peut-être est-il parvenu au point de se rendre compte que les systèmes fiscaux confiscatoires […]
[…] Some folks say they want “austerity,” but that’s largely a code word for higher taxes. They’re fighting against the people who say they want “growth,” but that’s generally a code word for more Keynesian spending. […]
[…] government spending create jobs? This is the discredited Keynesian notion that you become richer by switching money from your right pocket to left pocket, and I explain that […]
[…] but I think that collapse is almost inevitable at this point. Class warfare tax policy and Keynesian fiscal policy are not a recipe for a good […]
[…] Keynesian spending policies and class-warfare tax policies have produced dismal economic performance, with unemployment stuck above 8 percent – even though the White House promised the joblessness rate by this point would be about 5.5 percent if we squandered $800 billion-plus on the so-called stimulus. […]
[…] When Obama first took office and faced very little opposition, the Cato Institute took the lead against the faux stimulus, rallying hundreds of economists (including Nobel laureates) in opposition to the White House’s primitive Keynesianism. […]
[…] The video is more than two years old and it focuses mostly on the misguided notion that consumer spending drives growth, but you’ll see that the analysis also debunks the Keynesian notion that government spending boosts an economy (and if you want more information on Keynesianism, here’s another video you may enjoy). […]
[…] to criticize the Administration’s overall record, and I simultaneously get to take a jab at Keynesian spending […]
[…] But I think I did a decent job once the juices started flowing, though it’s hard to have an argument with someone who still believes in the snake-oil of Keynesian economics. […]
[…] Stantis, by the way, produced the best-ever cartoon about the so-called stimulus. In one picture, he achieved everything I tried to explain in my video on Keynesian economics. […]
[…] the end of our interview, I obviously disagreed with Jared’s embrace of the Keynesian fantasy that more government spending magically increases growth. If I was feeling mean, I could have […]
[…] That’s certainly what we’ve seen in Europe, both when the VAT was first implemented beginning about 45 years ago and more recently when many nations increased the rate to finance bailouts and faux Keynesian stimulus. […]
[…] we are critics of Keynesianism for reasons I explain in this video. And if you look at current economic performance, it’s certainly difficult to make the […]
[…] we are critics of Keynesianism for reasons I explain in this video. And if you look at current economic performance, it’s certainly difficult to make the argument […]
[…] we are critics of Keynesianism for reasons I explain in this video. And if you look atcurrent economic performance, it’s certainly difficult to make the argument […]
[…] Stantis, by the way, produced the best-ever cartoon about the so-called stimulus. In one picture, he achieved everything I tried to explain in my video on Keynesian economics. […]
[…] They think low-income people will benefit because of the magic of Keynesian economics – i.e., beneficiaries will have more income, which will then get spent, thus stimulating the […]
[…] hope, by the way, that neither Hubbard nor Swagel made the Keynesian argument that tax cuts are pro-growth because “they put money in people’s pockets.” Leonhardt […]
[…] also comments on the Keynesian economic theory being used to fight against […]
[…] also comments on the Keynesian economic theory being used to fight against […]
[…] It’s now been more than 951 days, and let’s be thankful with every passing second. A “do-nothing” Congress is a very good thing if the only other option is to pass monstrosities such as Obamacare and Keynesian spending schemes. […]
[…] But I think I did a decent job once the juices started flowing, though it’s hard to have an argument with someone who still believes in the snake-oil of Keynesian economics. […]
[…] one from A.F. Branco, which I also like because it simultaneously mocks Obama’s Keynesian mindset while showing that the real danger is an ever-rising burden of government […]
[…] one from A.F. Branco, which I also like because it simultaneously mocks Obama’s Keynesian mindset while showing that the real danger is an ever-rising burden of government […]
[…] imagine the Keynesian death spiral that will occur when the carpenter and dog walker then have to cut back on their purchases? Maybe […]
[…] example is important because the Obama White House is making the Keynesian argument that a smaller burden of government spending somehow will translate into less growth and fewer […]
[…] So perhaps the only logical conclusion to reach is that government is too big and that Keynesian economics is wrong. […]
[…] So perhaps the only logical conclusion to reach is that government is too big and that Keynesian economics is wrong. […]
[…] So perhaps the only logical conclusion to reach is that government is too big and that Keynesian economics is wrong. […]
[…] hope, by the way, that neither Hubbard nor Swagel made the Keynesian argument that tax cuts are pro-growth because “they put money in people’s pockets.” Leonhardt […]
[…] humor, but also the fact that it makes clear that government is too big and it also debunks the Keynesian notion that bad things will happen if we have even an itsy-bitsy degree of fiscal […]
[…] humor, but also the fact that it makes clear that government is too big and it also debunks the Keynesian notion that bad things will happen if we have even an itsy-bitsy degree of fiscal […]
[…] also comments on the Keynesian economic theory being used to fight against […]
[…] for instance, do some people believe in Keynesian economics, when it is premised on the fanciful notion that you can increase “spending power” by […]
[…] for instance, do some people believe in Keynesian economics, when it is premised on the fanciful notion that you can increase “spending power” by taking […]
[…] for instance, do some people believe in Keynesian economics, when it is premised on the fanciful notion that you can increase “spending power” by taking […]
[…] for instance, do some people believe in Keynesian economics, when it is premised on the fanciful notion that you can increase “spending power” by […]
[…] for instance, do some people believe in Keynesian economics, when it is premised on the fanciful notion that you can increase “spending power” by taking […]
[…] one from A.F. Branco, which I also like because it simultaneously mocks Obama’s Keynesian mindset while showing that the real danger is an ever-rising burden of government […]
[…] P.P.P.S. Dynamic scoring is a double-edged sword. If the statists control everything, they’ll use the process to justify more spending using discredited Keynesian economics. […]
[…] an unlimited credit card and tell them that more spending is good for the economy according to Keynesian economics. Though I’m not sure whether who that joke will hurt the most, the kids, the parents, the […]
[…] at least most of them aren’t compounding those mistakes with Keynesian spending schemes and class-warfare tax […]
[…] That episode should be additional proof that Keynesian economics is misguided. […]
[…] That episode should be additional proof that Keynesian economics is misguided. […]
[…] the way, if you want to understand in greater detail why the cartoon is accurate, this video on Keynesian economics is helpful, as is this video explaining the failure of Obama’s $1 trillion […]
[…] He promised unemployment would never climb above 8 percent if Congress squandered $800 billion on a Keynesian stimulus scheme. […]
[…] actually surprised that they got arrested. Based on Keynesian economics, they should get medals for “stimulating” the […]
[…] Keynesians argue that deficits are good for growth and this leads them to support more government […]
[…] The Keynesians argue that deficits are good for growth and this leads them to support more government spending. […]
[…] if you want to know my opinion, I’m not a fan of either side. Unlike the Keynesians, I don’t think debt is good for growth. But I also think it doesn’t make sense to […]
[…] let’s recap. When nations try Keynesianism, they get bad result because more government spending isn’t conducive to […]
[…] Krugman recently tried to declare victory for Keynesian economics over so-called austerity, but all he really accomplished was to show that tax-financed government […]
[…] Krugman recently tried to declare victory for Keynesian economics over so-called austerity, but all he really accomplished was to show that tax-financed government […]
[…] Krugman a récemment tenté de proclamer la victoire des keynésiens sur la soi-disant austérité, mais tout ce qu'il a vraiment accompli est la démonstration que les […]
[…] I enjoy using this chart to indict Obamanomics, in part because it’s a two-fer. I get to criticize the Administration’s overall record, and I simultaneously get to take a jab at Keynesian spending schemes. […]
[…] successor apparently is equally oblivious. He’s badgering the Germans to adopt Keynesian policies to “stimulate” growth, even though the Germans are doing better than most other […]
[…] impressive considering that Pew asked the question in a very biased way, presupposing that Keynesian economics actually […]
[…] the report even includes Keynesian policy, stating that “…budget cuts should start gradually so they don’t interfere with the ongoing […]
[…] favored spending cuts, even when they were asked a biased question that presupposed that Keynesian-style spending increases would “stimulate” the […]
[…] favor spending cuts, even when they were asked a biased question that presupposed that Keynesian-style spending increases would “stimulate” the […]
[…] have more and more evidence with each passing day that Keynesian economics doesn’t work. President Bush imposed a so-called stimulus plan in 2008 and President Obama imposed an even […]
[…] have more and more evidence with each passing day that Keynesian economics doesn’t work. President Bush imposed a so-called stimulus plan in 2008 and President Obama imposed an even […]
[…] have more and more evidence with each passing day that Keynesian economics doesn’t work. President Bush imposed a so-called stimulus plan in 2008 and President Obama imposed an even […]
[…] the way, if you want to understand in greater detail why the cartoon is accurate, this video on Keynesian economics is helpful, as is this video explaining the failure of Obama’s $1 trillion […]
[…] Keynesian spending doesn’t work, regardless of when it’s been tried. […]
[…] Liberls will tell you that we have to spend more to get out of a recession but Keynesian spending do… […]
[…] one side, you have “austerity” proponents of higher taxes. On the other side, you have Keynesians who think a higher burden of government spending will produce […]
[…] understandably partial to my video debunking Keynesian economics, and I think this Econ 101 video from the Center for Freedom and Prosperity does a great job of […]
[…] didn’t get any political benefit from having flushed $800 billion down the drain on a bunch of Keynesian […]
[…] repeatedly explained that Keynesian economics doesn’t work because any money the government spends must first be diverted from the productive sector of the […]
[…] repeatedly explained that Keynesian economics doesn’t work because any money the government spends must first be diverted from the productive sector of the […]
[…] repeatedly explained that Keynesian economics doesn’t work because any money the government spends must first be diverted from the productive sector of the […]
[…] repeatedly explained that Keynesian economics doesn’t work because any money the government spends must first be diverted from the productive sector of the […]
[…] terminations or real entitlement reform. Heck, Obama even proposed more spending for additional Keynesian faux stimulus. Republicans will be laughingstocks if they get […]
[…] I explain why Keynesian economics is misguided, in part because government can’t spend money without taking resources from the productive […]
[…] repeatedly explained that Keynesian economics doesn’t work because any money the government spends must first be diverted from the productive sector of the […]
[…] de nombreuses fois expliqué que l'économie keynésienne est bancale parce que chaque somme dépensée par l’État doit d'abord être détournée du secteur productif […]
[…] also explained that Keynesian spending schemes won’t create […]
[…] the way, if you want to understand in greater detail why the cartoon is accurate, this video on Keynesian economics is helpful, as is this video explaining the failure of Obama’s $1 trillion […]
[…] understandably partial to my video debunking Keynesian economics, and I think this Econ 101 video from the Center for Freedom and Prosperity does a great job of […]
[…] Obama’s class-warfare fire, by contrast, is nothing but bad news. The tax increases might not be as large in the short run, but they would be designed to impose maximum damage on the economy. And the sequester would disappear. Indeed, Obama’s actually demanding more Keynesian stimulus! […]
[…] But you won’t be surprised to learn that there’s still plenty of bad policy in Denmark. The politicians can’t resist, for instance, the siren song of Keynesian economics. […]
[…] Obama’s class-warfare fire, by contrast, is nothing but bad news. The tax increases might not be as large in the short run, but they would be designed to impose maximum damage on the economy. And the sequester would disappear. Indeed, Obama’s actually demanding more Keynesian stimulus! […]
[…] even though several so-called stimulus plans in Japan have flopped over the past two decades (Keynesian economics doesn’t work anywhere, but that’s a topic for another […]
[…] government spending means that more funds are available in credit markets for private spending. This video explains why Keynesian theory is […]
[…] government spending means that more funds are available in credit markets for private spending. This video explains why Keynesian theory is […]
[…] for instance, do some people believe in Keynesian economics, when it is premised on the fanciful notion that you can increase “spending power” by taking […]
[…] good old Keynesian economics. Over-promising and under-delivering ever since the failed policies of Hoover and […]
[…] the report even includes Keynesian policy, stating that “…budget cuts should start gradually so they don’t interfere with the ongoing […]
[…] nonetheless good for the economy because of the impact on aggregate demand. But even if you believe Keynesian theory, the authors find that unemployment benefits don’t help because of the offsetting foregone […]
[…] nonetheless good for the economy because of the impact on aggregate demand. But even if you believe Keynesian theory, the authors find that unemployment benefits don’t help because of the offsetting foregone income […]
[…] nonetheless good for the economy because of the impact on aggregate demand. But even if you believe Keynesian theory, the authors find that unemployment benefits don’t help because of the offsetting foregone income […]
[…] the way, if you want to understand in greater detail why the cartoon is accurate, this video on Keynesian economics is helpful, as is this video explaining the failure of Obama’s $1 trillion […]
[…] The Keynesians argue that deficits are good for growth and this leads them to support more government spending. […]
[…] Obama’s class-warfare fire, by contrast, is nothing but bad news. The tax increases might not be as large in the short run, but they would be designed to impose maximum damage on the economy. And the sequester would disappear. Indeed, Obama’s actually demanding more Keynesian stimulus! […]
[…] I don’t think anyone, regardless of ideology, would pick the so-called stimulus. Advocates of small government say it was a waste of money based on deeply flawed Keynesian theory. […]
[…] When almost every Republican and Democrat argued for a Keynesian-style stimulus in 2008, libertarians had the lonely job of explaining that you don’t get more […]
[…] So perhaps the only logical conclusion to reach is that government is too big and that Keynesian economics is wrong. […]
[…] you can see, this is hardly a ringing endorsement for the Keynesian notion that more government spending is good for job creation (or for Nancy Pelosi’s laughable claim […]
[…] you can see, this is hardly a ringing endorsement for the Keynesian notionthat more government spending is good for job creation (or for Nancy Pelosi’s laughable […]
[…] the so-called “austerity” vs “growth” argument is grossly misguided because Keynesian spending isn’t pro-growth and also because it’s important to distinguish between good austerity and bad […]
[…] explained that the so-called “austerity” vs “growth” argument is grossly misguided because Keynesian spending isn’t pro-growth and also because it’s important to distinguish between good austerity and bad […]
[…] the way, if you want to understand in greater detail why the cartoon is accurate, this video on Keynesian economics is helpful, as is this video explaining the failure of Obama’s $1 trillion […]
[…] llamada “austeridad” vs “crecimiento” es manifiestamente errónea porque el gasto keynesiano no es a favor del crecimiento y también porque es importante distinguir entre la buena y la mala […]
[…] made this statement because Keynesian theory says government spending can boost “aggregate demand” and goose an economy. So less […]
[…] Like what VP Bodin told everyone – government spending boosts aggregate demand and stimulates the economy. Totally a Keynesian economic theory. […]
[…] And even though CBO is finally admitting some of the flaws in Obamacare, the bureaucrats are still unrepentant Keynesians. Check out this excerpt from a story in yesterday’s Washington […]
[…] growth with 100 percent tax rates. And the bureaucrats at CBO also are reflexive advocates of Keynesian economics, which is why they claimed that Obama’s so-called stimulus was creating jobs even though […]
[…] growth with 100 percent tax rates. And the bureaucrats at CBO also are reflexive advocates of Keynesian economics, which is why they claimed that Obama’s so-called stimulus was creating jobs even though […]
[…] Here’s my video on Keynesian economics and here’s my video on Obama’s failed […]
[…] Here’s my video on Keynesian economics and here’s my video on Obama’s failed […]
[…] an ongoing debate about Keynesian economics, stimulus spending, and various versions of fiscal austerity, and regular readers know I do […]
[…] an ongoing debate about Keynesian economics, stimulus spending, and various versions of fiscal austerity, and regular readers know I do […]
[…] here’s my video debunking Keynesian […]
[…] for instance, that “government spending can support economic growth during a recession” That Keynesian statement sounds more like Brookings than AEI. He also has Obama’s faith in “shovel-ready jobs,” […]
[…] But I’m only prevaricating to set the stage for some satire about Keynesian economics. […]
[…] I shared some good jokes about Keynesian economics a few weeks […]
[…] money out of people’s pockets.” This is Keynesian economic theory, which I’ve explained many times doesn’t make sense. No need to regurgitate those arguments […]
[…] That episode should be additional proof that Keynesian economics is misguided. […]
[…] further information, here’s my video on Keynesian […]
[…] the weak economy as an excuse to further expand the burden of government spending in hopes that Keynesian economics would magically work (after failing for Hoover and Roosevelt in the 1930s, Japan in the 1990s, Bush […]
[…] Liberals will tell you that we have to spend more to get out of a recession but Keynesian spending d… […]
[…] favor spending cuts, even when they were asked a biased question that presupposed that Keynesian-style spending increases would “stimulate” the […]
[…] may have noticed, by the way, that this post does not include any of the videos about Keynesian economics or Obama’s stimulus. That’s an entirely different issue, perhaps best described as being a […]
[…] further information, here’s my video on Keynesian […]
[…] a leading proponent of the notion that bigger government stimulates growth (a.k.a., Keynesian economics), he’s in the rather difficult position of rationalizing why the economy was stagnant when […]
[…] a leading proponent of the notion that bigger government stimulates growth (a.k.a., Keynesian economics), he’s in the rather difficult position of rationalizing why the economy was stagnant when […]
[…] explained (over and over again) why the Keynesian theory is misguided, and even narrated a video on the […]
[…] of the key tenets of Keynesian economics is that there’s a tradeoff between inflation and unemployment (the so-called Phillips […]
[…] a leading proponent of the notion that bigger government stimulates growth (a.k.a., Keynesian economics), he’s in the rather difficult position of rationalizing why the economy was stagnant when Obama […]
[…] but those numbers show the biggest reduction in red ink (presumably a bad thing according to Keynesian stimulus theory) took place in the United […]
[…] are two reasons for CRFB’s confusion. First, they seem to accept the Keynesian argument about bigger government and red ink boosting growth, notwithstanding all the evidence to the […]
[…] y a deux raisons à la confusion du CRFB. Premièrement, il semble accepter l’argument keynésien selon lequel un État obèse avec des déficits encourage la croissance, même s’il va sans dire […]
[…] interest groups that have their snouts in the federal trough. Second, some of them sincerely think government spending “stimulates” an economy and/or “helps” […]
[…] interest groups that have their snouts in the federal trough. Second, some of them sincerely think government spending “stimulates” an economy and/or “helps” […]
[…] that should be of considerable interest to fans of Keynesian economics. These are the folks who think an extra burst of government spending can stimulate an economy, so they are strongly opposed to balanced budget rules that are perceived to be […]
[…] was intervening in financial markets to prop up prices, and that was after several years of failed Keynesian-style spending programs that were supposed to “stimulate” […]
[…] further information, here’s my video on Keynesian […]
[…] further information, here’s my video on Keynesian […]
[…] further information, here’s my video on Keynesian […]
[…] the icing on the cake of bad policy is that Japanese politicians are addicted to Keynesian economics. For two-plus decades, they’ve enacted one “stimulus package” after another. None […]
[…] the icing on the cake of bad policy is that Japanese politicians are addicted to Keynesian economics. For more than two decades, they’ve enacted one “stimulus package” after another. […]
[…] the icing on the cake of bad policy is that Japanese politicians are addicted to Keynesian economics. For more than two decades, they’ve enacted one “stimulus package” after another. None of […]
[…] the icing on the cake of bad policy is that Japanese politicians are addicted to Keynesian economics. For more than two decades, they’ve enacted one “stimulus package” after another. None of […]
[…] Here’s the video I narrated for the Center for Freedom and Prosperity about […]
[…] supposed to believe the IMF is guided by evidence when the chief bureaucrat relies on Keynesian theory to make a dishonest argument. I wish that “slashing spending” was one of the options on […]
[…] without first taking the money out of the economy via taxes or borrowing (see cartoon below, or my video on the topic). One can argue, of course, that Keynesian policy leads to more consumer spending by borrowing […]
[…] without first taking the money out of the economy via taxes or borrowing (see cartoon below, or my video on the topic). One can argue, of course, that Keynesian policy leads to more consumer spending by borrowing […]
[…] government spending. Plenty of gimmicky tax cuts. All of which were designed according to the Keynesian theory that presumes that governments should borrow money and somehow get those funds into people’s […]
[…] economics doesn’t work, either in theory or in reality. And it’s laughable that the excuse for Keynesian failure is always that […]
[…] sloppy economist looks at the recipients of government programs and declares that the economy will be stimulated by this additional money that is easily seen, whereas a good economist recognizes that the […]
[…] Here’s my video explaining Keynesian […]