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by Sheldon Richman

Keynesianism Demolished

Posted December 16, 2008
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Here’s an excellent video by economist Dan Mitchell on the Keynesian fallacies inherent in government stimulation of the economy.

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  1. Comment by Carl Clegg on 16 December 2008:

    Very articulate video. The danger with the Keynesianism mentality is that it’s pervasive not only at the federal level but also at the state and local levels. Here in NJ, Governor Corzine is designing a series of government spending programs under the auspice of “stimulus”. Other states are doing the same. As Dan Mitchell points out, when you spend money, it’s got to come from somewhere — either you raise taxes which cuts production and cripples the economy or you print more money which causes inflation. Both, of course, are not desirable. So, instead of more stimulus packages, we really need more tax cuts and less government.

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