So says Richard Armey, who is among the many Republicans who are suddenly making sense after years of kowtowing to Republican-style Keynesian policy. It seems like a universal principle: those who are out of power favor free markets more than those in power. So the agenda seems clear: keep everyone out of power.
Source link: http://blog.mises.org/9372/its-keynes-v-hayek-again/
It’s Keynes v. Hayek again
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Rothbard once quipped observantly (found on one of the many amazing podcasts LvMI makes available-thanks Jeffrey): ‘Keynes died…and left us with the long run ‘.
I laughed the headphones off my ears.
Good that Dick Armey got a say in the WSJ: “It is about politics and power, not sound economics, and I believe that the American people will reject it.”
Sadly though, with all the bailouts, stimuli, and printing already in motion, shouldn’t we realize that the Keynesian cat is already out of the bag?
Keynes was actually speaking about Keynesianism!
January 31, 2009
Keynes Predicts The Fate Of The Keynesians!
At least it is now clearly and unequivocally stated by npr (national propaganda radio) that the scheme about to be hoisted upon America is Keynesianism.
So, every bit of its politically motivated thievery can be directly attributed to Keynesianism. And every assault on savings and capital can be tied directly to Keynesianism.
And the advocates of these schemes can now have ‘Keynesian’ stamped upon their brows!
As Keynes said “We’re all dead in the long run,” which means that these zombies of Keynesianism will crumble to dust as the dawn of classical liberalism breaks over the horizon.
“So the agenda seems clear: keep everyone out of power.”
Now that’s a political agenda I can get behind!
In a post on the Acton Power Blog (acton.org), Gov. Mark Sanford of South Carolina is quoted as sounding a similar theme: “I think that this is the biggest gut check we’ve ever had as a country, where do we go next, towards a politically based economy or a market based economy?”
When fifty elected officials say it, friends, they may think it’s a movement.
Hey. Dick Armey stole those Hayek quotes straight off my “Taking Hayek Seriously” blog.
Thanks Dick!
Someone on one of the morning news shows brought up the good point that Keynes’ model assumes that in the “normal” years before a depression hits, inflation will have been kept under control & the government won’t be in such massive debt. In other words, even though we’ll inevitably try to spend our way out this recession, Keynes’ ideas are even less applicable this time around than in previous recessions.
Mises > Hayek > Keynes
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