Keynesian policy tested and once again completely failed

Keynesian stimulus actually led to a worse outcome than the predicted outcome if nothing at all was done. That is what any classical economist would have said would happen, but other than one or two here or there, no classical economists remain. So the entire profession just looked on, saw the manifest failure of the theories they all believed were true, and just blacked it out. Just as they have done on every occasion a Keynesian stimulus has been tried and inevitably failed.

1 thought on “Keynesian policy tested and once again completely failed

  1. Pingback: Keynesian policy tested and once again completely failed - The Rabbit Hole

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