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Keynesian economics is insanity. Disproven by Milton Friedman and others.

• ubernostrum 9y ago
  We've already seen one of Friedman's greatest (in terms of influence) disciples -- Greenspan -- openly question whether his faith in "proven" economics was well-founded. One wonders what Friedman would've thought if he'd lived longer. (my money is on "he'd have found some way to blame someone else and claim he was still right", but one can hope)
• CalChris 9y ago
  Milton Friedman was a monetarist which is a belief in controlling the supply of money. That's a different instrument but actually quite similar to Keynes: they are both feedback control mechanisms. That said, monetarism is most definitely NOT cut taxes and increase spending in good times. Keynes and Friedman would both call that insanity.
  • fjsolwmv 9y ago
    Taxes on fiat currency are away to distribute expenses, not a way to raise funds. A fiat currency government can print money whenever it wants, which is taxation via inflation. (For more, see: Modern Monetsr Theory.)