Reminder: the Smart Guys were wrong on the ‘stimulus.’

By: Moe Lane (Diary)  |  December 19th at 01:30 PM  | 

This Robert Samuelson piece on the inherent problem with Keynesian economic theory – which, in my opinion, can be summed up neatly as “First, assume that your planned economy will be managed forever by an immortal, unelected, and incorruptible Keynesian economist” – is pretty good, but it has one passage in it that makes my teeth ache. Here it is, in all of its questionable | Read More »