Friday, January 16, 2009

Keynesian Hijinx

I heard an interesting biography of pseudo-economist John Maynard Keynes on NPR this morning. According to the NPR report, Mr. Keynes was a flamboyant homosexual British elitist with no regard for any working-class person, and who pretty much viewed the world as a 2 caste system: the haves and the have-nots. He didn't care much for the have-nots.

They also said he didn't care much for America, and didn't think America deserved it's economic importance. It's interesting that our country has adopted his ideas as economic canon. Most kids in public school, myself included, learned only the Keynesian approach. Other economic ideas were mocked by our textbooks.

The report on NPR stated that President-elect Obama intends to use more Keynesian ideas. Even the left-leaning NPR had a hard time swallowing some of that. The morning edition host questioned why we'd take advice from such an unsavory character.

Keynes moved away from freedom and liberty towards a centrally planned socialist-type economy. I don't think you could find an intelligent economist that would say our economy isn't already more socialist than it is free. I don't think adopting more of the ideas of the elitist and priviledged gay economist who got us there will help.

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