Gary North recently explains the difference between Keynesian and Austrian economics in terms simple enough even for me. He then asks the question why we continue down the Keynesian road to oblivion.
The world economic situation is one giant example of un-leashed Keynes. Government intervention in the marketplace, pumping fiat money into the system and generally enlarging that monolith that is government. The system doesn’t work but government’s typical solution is more of the same. The emphasis on MORE. Why indeed do we continue down this dark road? Read the rest of this entry »
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