SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Advanced Micro Devices
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: bentway who wrote (726715)7/16/2013 2:14:05 PM
From: Joe Btfsplk3 Recommendations

Recommended By
FJB
i-node
Tenchusatsu

  Read Replies (2) of 1576874
 
If I had the patience to thoroughly examine here the fallacies that stem from Keynesian theory I'd lack the talent. Henry Hazlitt had both. There are abundant piecemeal examinations of Keynes' fallacies, but Henry did a comprehensive total job in four or five hundred pages.

Were his whole treatise posted here most wouldn't take the time to read it. The type who can't grasp why Walmart is a boon would sneeringly blow it off without examination.

Americans with enough wear on there treads might recall Nixon's statement that "we're all Keynesians now". They might also recall the stagflation and the misery index that followed short years later. Many would lack the foundational knowledge to connect the dots.

Likewise, we're still suffering the necessary correction from a bubble resulting in part from a phony credit expansion that Keynesianism endorses. A lot of the pain lies in what is unseen, what might have been, and is unrecognized.

Those who understand, those who don't, and those who don't know why they should will share the burden while old lessons are painfully learned again, maybe again and again. Eventually better understandings will sink in.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News