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Thursday, September 1, 2011

The Smile File Visits the First Keynesian...

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  • Keynesian solutions that were intended to propel us out of the Great depression landed us in the Recession of 1937.
  • Keynesian solutions that were intended to propel Japan out of their late 80's recession landed Japan in a 20 year perma-recession.
  • Keynesian solutions that were intended to propel the US out of the recession of 2008 landed us in yet another Keynesian Depression.

We should really get naming recessions and depressions that result from Keynesian Theory what they are ... Keynesian Depressions.




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