KEYNES? (av Lew Rockwell)
“The errors of Keynes have empowered sociopathic political classes all over the world and deprived the world of the economic progress we would otherwise have enjoyed. Japan is a great example of Keynesian devastation: The NIKKEI 225 (aktieindex) which hit 38500 in 1990, has never managed to reach even half that level since. A quarter century ago the index of industrial production in Japan was at 96,80, after 25 years of aggressive Keynesian policy that gave Japan the highest debt-to-GDP ratio in the world, the index of industrial production is still 96,80.
The US meanwhile has had 16 years of fiscal stimulus or preposterously low interest rates, all of which Keynesians have cheered.
The result? Nothing…
No amount of stimulus ever seems to be quite enough. And when the stimulus fails, the blinkered Keynesian establishment can only think to double-down, never to question the policy itself.”
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