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We are all Keynesians again
Richard Nixon once said, “We are all Keynesians Now”. Thanks to Richard Nixon and Keynesian economics, we now have a term for the high unemploymnet and high inflation. It’s called stagflation. The 1970′s saw 3 recession in 10 years, Ronald Reagan and supply side policies led to a booming economy and Keynesian economics fell out of favor.
Most Americans are economically illiterate and our elected officials know even less than unelected citizens. (LINK). It time for a refresher on why Keynesian policies don’t work. hat tip to Michelle Malkin
