Wednesday, 24 October 2012

Keynesian Myth?

Keynes has spawned generations of economists and politicians who think that spending money is the same thing as making money. You might recall Michael Douglas’s character in War of the Roses saying to his wife (played by Kathleen Turner): “It’s a lot easier to spend it than it is to make it, honeybun!” Well, not according Keynesian economists, it isn’t.
Peter Smith takes up the cudgels against one of the underpinning assumptions of much current economic thinking. Full article here: http://www.quadrant.org.au/magazine/issue/2010/9/time-to-topple-keynesian-economics

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