Keynes Is Out
It is probably still sadly true that John Maynard Keynes is the world’s most important economist.
But that doesn’t mean he is right, or ever was right.
More and more governments are waking up to the fact that you cannot spend your way out of debt, and that the responsible thing for government to do in the face of a recession is nothing.
Meanwhile, in a kind of psycho-keynesian effort to stimulate the economy and secure their jobs and pension payments, protestors in France occupy oil refineries, block roads, vandalise fuel depots, and generally do everything they can to disrupt the supply of energy on which industry and employment depends.
Good thinking guys.