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.
[…] much to dislike about Keynesian economics, most notably that it tells politicians that their vice – buying votes by spending other […]
[…] to say, this simplistic argument overlooks the fact that government can’t give people goodies without taking the money out of the private economy in the first […]
[…] 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 borrows […]
[…] Pero las nubes oscuras también pueden tener líneas oscuras, al menos cuando la multitud en Washington decide que es hora de otra dosis de economía keynesiana. […]
[…] But dark clouds also can have dark linings, at least when the crowd in Washington decides it’s time for another dose of Keynesian economics. […]
[…] 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 […]
[…] in 2010, I wrote about the absurd contention, promoted by some advocates of Keynesian economics, that wars are good for […]
[…] and others also make the discredited Keynesian argument about government spending somehow kick-starting growth, ostensibly because a tax-and-spend agenda […]
[…] by association, some of the people who put together political prediction models also put together deeply flawed Keynesian economic […]
[…] is somewhat worrisome since “stimulus” plans oftentimes are based on Keynesian economics, which has a terrible track record. But there are policies that could help growth and I comment on […]
[…] At the risk of over-simplifying, the difference between “supply-side economics” and “demand-side economics” is that the former is based on microeconomics (incentives, price theory) while the latter is based on macroeconomics (aggregate demand, Keynesianism). […]
[…] Si eres un glotón del castigo, puedes ver mi video de 11 años sobre economía […]
[…] If you’re a glutton for punishment, you can watch my 11-year old video on Keynesian […]
[…] Ms. Kelton would go with this approach. I know from previous encounters that she’s a genuine Keynesian and thus willing to borrow lots of money to finance a larger public sector. But her answer at 2:45 […]
[…] Ms. Kelton would go with this approach. I know from previous encounters that she’s a genuine Keynesian and thus willing to borrow lots of money to finance a larger public sector. But her answer at 2:45 […]
[…] talking about my left-leaning friends who have genuine (albeit misguided) views on things such as Keynesian economics or the minimum […]
[…] Here’s my video on Keynesian […]
[…] 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 […]
[…] comme excuse pour alourdir davantage le fardeau des dépenses publiques dans l’espoir que l’économie keynésienne apporte ses solutions magiques (après avoir échoué sous Hoover et Roosevelt dans les années […]
[…] issue gives me an excuse to re-emphasize that Keynesian monetary policy is just as foolish as Keynesian fiscal policy. You may enjoy a “sugar high” for a period of time, but eventually there’s a […]
[…] that spending restraint is bad for an economy. The Keynesians think that more government is “stimulus.” And many of the international bureaucracies (including the IMF) argue that more government […]
[…] 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 […]
[…] know that Keynesian “stimulus” is when politicians borrow from one part of the economy and spend in another part of the economy […]
[…] economista desleixado analisa os destinatários dos programas governamentais e declara que a economia será estimulada por esse dinheiro adicional que é facilmente visto, enquanto um bom economista reconhece que o […]
[…] I give speeches on Keynesian economics, I usually begin with a theoretical discussion on why consumer spending is a consequence of growth […]
[…] here’s the part I don’t like. She’s a believer in the perpetual motion machine of Keynesian economics. She thinks deficits are actually good for the economy and she wants to use debt to finance an […]
[…] He promised unemployment would never climb above 8 percent if Congress squandered $800 billion on a Keynesian stimulus scheme. […]
[…] I frequently urge people to watch my video debunking Keynesian economics. Though I admit it’s not nearly as entertaining as the famous video showing the Keynes v. […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] economics is fundamentally misguided because it focuses on how to encourage more spending when the real goal should be to figure out […]
[…] If you want to learn more about Keynesian economics, the video I narrated for the Center for Freedom and Prosperity is a good place to […]
[…] know that Keynesian “stimulus” is when politicians borrow from one part of the economy and spend in another part of the economy […]
[…] know that Keynesian “stimulus” is when politicians borrow from one part of the economy and spend in another part of the economy […]
[…] is a genuine and sincere supporter of the perpetual motion machine of Keynesian economics (i.e., the theory that more government spending is a form of “stimulus” notwithstanding all the evidence […]
[…] Here’s my video explaining Keynesian […]
[…] 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 […]
[…] economics doesn’t work, either in theory or in reality. And it’s laughable that the excuse for Keynesian failure is always that […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] Here’s the video I narrated for the Center for Freedom and Prosperity about […]
[…] 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 […]
[…] 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 two-plus decades, they’ve enacted one “stimulus package” after another. None […]
[…] further information, here’s my video on Keynesian […]
[…] further information, here’s my video on Keynesian […]
[…] further information, here’s my video on Keynesian […]
[…] 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” […]
[…] 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 […]
[…] 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” […]
[…] 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 […]
[…] 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 […]
[…] but those numbers show the biggest reduction in red ink (presumably a bad thing according to Keynesian stimulus theory) took place in the United […]
[…] 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 […]
[…] of the key tenets of Keynesian economics is that there’s a tradeoff between inflation and unemployment (the so-called Phillips […]
[…] explained (over and over again) why the Keynesian theory is misguided, and even narrated a video on the […]
[…] 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 […]
[…] further information, here’s my video on Keynesian […]
[…] 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 […]
[…] favor spending cuts, even when they were asked a biased question that presupposed that Keynesian-style spending increases would “stimulate” the […]
[…] Liberals will tell you that we have to spend more to get out of a recession but Keynesian spending d… […]
[…] 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 […]
[…] further information, here’s my video on Keynesian […]
[…] That episode should be additional proof that Keynesian economics is misguided. […]
[…] 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 […]
[…] I shared some good jokes about Keynesian economics a few weeks […]
[…] But I’m only prevaricating to set the stage for some satire about Keynesian economics. […]
[…] 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,” […]
[…] here’s my video debunking Keynesian […]
[…] 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 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 […]
[…] 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 […]
[…] 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 […]
[…] Like what VP Bodin told everyone – government spending boosts aggregate demand and stimulates the economy. Totally a Keynesian economic theory. […]
[…] made this statement because Keynesian theory says government spending can boost “aggregate demand” and goose an economy. So less […]
[…] 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 […]
[…] 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 […]
[…] 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 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 […]
[…] 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 […]
[…] 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 […]
[…] So perhaps the only logical conclusion to reach is that government is too big and that Keynesian economics is wrong. […]
[…] 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 […]
[…] 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. […]
[…] 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! […]
[…] The Keynesians argue that deficits are good for growth and this leads them to support more government spending. […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] the report even includes Keynesian policy, stating that “…budget cuts should start gradually so they don’t interfere with the ongoing […]
[…] good old Keynesian economics. Over-promising and under-delivering ever since the failed policies of Hoover and […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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! […]
[…] 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 […]
[…] 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 […]
[…] also explained that Keynesian spending schemes won’t create […]
[…] 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 […]
[…] repeatedly explained that Keynesian economics doesn’t work because any money the government spends must first be diverted from the productive sector of the […]
[…] I explain why Keynesian economics is misguided, in part because government can’t spend money without taking resources from the productive […]
[…] terminations or real entitlement reform. Heck, Obama even proposed more spending for additional Keynesian faux stimulus. Republicans will be laughingstocks if they get […]
[…] 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 […]
[…] didn’t get any political benefit from having flushed $800 billion down the drain on a bunch of Keynesian […]
[…] 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 […]
[…] 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 […]
[…] Liberls will tell you that we have to spend more to get out of a recession but Keynesian spending do… […]
[…] Keynesian spending doesn’t work, regardless of when it’s been tried. […]
[…] 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 […]
[…] 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 […]
[…] favor spending cuts, even when they were asked a biased question that presupposed that Keynesian-style spending increases would “stimulate” the […]
[…] favored spending cuts, even when they were asked a biased question that presupposed that Keynesian-style spending increases would “stimulate” the […]
[…] the report even includes Keynesian policy, stating that “…budget cuts should start gradually so they don’t interfere with the ongoing […]
[…] impressive considering that Pew asked the question in a very biased way, presupposing that Keynesian economics actually […]
[…] 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 […]
[…] 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. […]
[…] 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 […]
[…] 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 […]
[…] let’s recap. When nations try Keynesianism, they get bad result because more government spending isn’t conducive to […]
[…] 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 […]
[…] The Keynesians argue that deficits are good for growth and this leads them to support more government spending. […]
[…] Keynesians argue that deficits are good for growth and this leads them to support more government […]
[…] actually surprised that they got arrested. Based on Keynesian economics, they should get medals for “stimulating” the […]
[…] He promised unemployment would never climb above 8 percent if Congress squandered $800 billion on a Keynesian stimulus scheme. […]
[…] 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 […]
[…] That episode should be additional proof that Keynesian economics is misguided. […]
[…] That episode should be additional proof that Keynesian economics is misguided. […]
[…] at least most of them aren’t compounding those mistakes with Keynesian spending schemes and class-warfare tax […]
[…] 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 […]
[…] 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. […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] also comments on the Keynesian economic theory being used to fight against […]
[…] 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 […]
[…] 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 […]
[…] 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. […]
[…] 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 […]
[…] imagine the Keynesian death spiral that will occur when the carpenter and dog walker then have to cut back on their purchases? Maybe […]
[…] 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 […]
[…] 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. […]
[…] 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. […]
[…] also comments on the Keynesian economic theory being used to fight against […]
[…] also comments on the Keynesian economic theory being used to fight against […]
[…] 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 […]
[…] 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 […]
[…] 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. […]
[…] 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 […]
[…] 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 at current economic performance, it’s certainly difficult to make the […]
[…] 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. […]
[…] 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 […]
[…] 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. […]
[…] 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. […]
[…] to criticize the Administration’s overall record, and I simultaneously get to take a jab at Keynesian spending […]
[…] 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). […]
[…] 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. […]
[…] 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. […]
[…] 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 […]
[…] 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 […]
[…] 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. […]
[…] 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 […]
[…] 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. […]
[…] 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. […]
[…] 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 […]
[…] Isn’t that just wonderful. The politicians justified a corrupt form of intervention by citing the crackpot theory of Keynesian economics. […]
[…] 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 […]
[…] 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 […]
[…] 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! […]
[…] his guns-n-butter Keynesianism, it’s no big surprise that LBJ ranks last. And “W” also gets a very low […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] didn’t get any political benefit from having flushed $800 billion down the drain on a bunch of Keynesian […]
[…] get any political benefit from having flushed $800 billion down the drain on a bunch of Keynesian […]
[…] 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 […]
[…] He promised unemployment would never climb above 8 percent if Congress squandered $800 billion on a Keynesian stimulus scheme. […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] also not a fan of bigger government in the short run, which is what we get from Keynesian economics and so-called […]
[…] also got to take a jab at the failed Keynesian stimulus. And I explained that big government facilitates corruption and that excessive government […]
[…] the report even includes Keynesian policy, stating that “…budget cuts should start gradually so they don’t interfere with 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 […]
[…] 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.” […]
[…] 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 […]
[…] He promised unemployment would never climb above 8 percent if Congress squandered $800 billion on a Keynesian stimulus scheme. […]
[…] 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 […]
[…] 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 […]
[…] I’ve written extensively about the flaws of Keynesian economics, and I’ve even narrated a video on the flaws of Keynesian theory. […]
[…] 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 […]
[…] with the very first policy-oriented post on this blog, I’ve been criticizing Keynesian economics, usually with lots of cheering and support from […]
[…] 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 […]
[…] 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 […]
[…] 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 – […]
[…] 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. […]
[…] 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 […]
[…] 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 […]
[…] Mitchell, who writes the International Liberty blog, agrees. Here’s a video he made that spells it out. Share this:PrintEmailDiggShare on […]
[…] 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 […]
[…] 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 …. […]
[…] 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. […]
[…] 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. […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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. […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] Mitchell of the Cato Institute produced this short video. It is a concise, clear description of the Keynesian government stimulus strategy for economic […]
[…] 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. […]
[…] 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 […]
[…] also worth noting that Keynesian spending didn’t work for Hoover and Roosevelt back in the 1930s, and Laffer and Moore also explain how […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] I’ve written extensively about the flaws of Keynesian economics, and I’ve even narrated a video on the flaws of Keynesian theory. […]
[…] of my work on government stimulus focuses on economic theory and […]
[…] of my work on government stimulus focuses on economic theory and […]
[…] 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 […]
[…] 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 – […]
[…] 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 […]
[…] 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 …. […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] For more information on this issue, here’s my take on Keynesianism. […]
[…] 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 […]
[…] 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. […]
[…] 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 […]
[…] Alaghebandian of the America Enterprise Institute, debunks this notion, while also explaining that Keynesian economics is flawed because it misinterprets the role of consumer […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] video from Dan Mitchell gives a simple explanation of why keynesian economic theory is inherently flawed. Basically, […]
[…] 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. […]
[…] I’ve written extensively about the flaws of Keynesian economics, and I’ve even narrated a video on the flaws of Keynesian theory. […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]
[…] 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 […]