“John Maynard Keynes” on The Daily Caller

Clearly my education is incomplete.  I thought the ideas of John Maynard Keynes were put to bed by Ronald Reagan and Margaret Thatcher.  I thought even the most hard-headed of thought leaders – higher education – had replaced outdated, irrelevant economics texts with something more reflective of reality – that markets create growth (i.e., jobs). (more)

One of the most successful pieces of propaganda ever is the myth that the Federal Reserve exists to protect the dollar.  Like all great myths it unifies its believers and shields them from the facts.  But facts are stubborn things, as John Adams observed, and it is a fact that since the creation of the Federal Reserve the dollar has lost 92 percent of its purchasing power.  If you had a nickel and three pennies in your hand, that’s what’s left of the dollar since the Fed took charge.  Imagine if the Fed were in charge of air safety and 92 percent of the flights crashed on takeoff.  That’s how well the Fed has done its purported job. (more)

Abstract: Despite decades of repeated failure, President Obama and Congress continue to promote the myth that government can spend its way out of recession. Heritage Foundation economic policy expert Brian Riedl dispels the stimulus myth, lays out the evidence that government spending does not end recessions–and presents the evidence for what does end recessions. Hint: It’s not another “stimulus package.” (more)