(Download) "Keynesian Cons: Much As the Supply-Siders Rail Against Economic Stimulus, They Buy the Basic Argument (Coalitions)" by The American Conservative " eBook PDF Kindle ePub Free
eBook details
- Title: Keynesian Cons: Much As the Supply-Siders Rail Against Economic Stimulus, They Buy the Basic Argument (Coalitions)
- Author : The American Conservative
- Release Date : January 20, 2009
- Genre: Politics & Current Events,Books,
- Pages : * pages
- Size : 64 KB
Description
KEYNESIAN ECONOMICS is back. Government spending to stimulate the economy is all the rage and has won the day in Congress. Of course, conservatives are uneasy. "It's hardly a secret that Obama is a Keynesian and that he is staggeringly untroubled by the consistent failures of Keynesian policy before and since the New Deal," David Limbaugh writes at Townhall.com. Dick Morris and Eileen McGann add, "There are very few economists who really buy into Keynesian theory anymore. Instead, the idea of 'rational expectations' has taken its place. The difference between the two approaches is essential to understanding why Obama's stimulus package won't work." Indeed, you would be hard-pressed to find a conservative who admits to being an orthodox Keynesian, conservatives having joined the Church of the Supply Side many years ago. But though Keynesianism tends to be associated with big-government "liberalism"--in its original form, liberalism stood for small government in all realms--many who take Keynes's approach to economics are nevertheless self-identified conservatives. In practice, "conservative Keynesian" is not a contradiction in terms.
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