Blog

Santa Keynes and the Hayekian Grinch

Santa Keynes and the Hayekian Grinch
Profile photo of Redmond Weissenberger

A great article by Peter Foster over at the Financial Post

Keynesianism has extended ­downturn, despite recent praise

We are now approaching the fourth Christmas of the great debate between the benign supporters of Santa Keynes and the walnut-hearted acolytes of the Hayekian Grinch. Or at least that’s how Keynesians seem to see it.

Prominent statist fans of John Maynard Keynes such as Nobel laureates Paul Krugman and George Stiglitz, and Keynes’ biographer Lord Robert Skidelsky, tend to be moralists who castigate their opponents as flinty-eyed masochists rather than level-headed students of immutable laws. Their indignant question is “Would you have us do nothing?” The response from supporters of Friedrich Hayek and his “Austrian” free-market economics is: “Yes, since what you are doing is making things worse. Moreover, it’s your policies that cause crises in the first place.”

Click through for the rest – well worth the read!

Blog
Profile photo of Redmond Weissenberger

Redmond is the director of the Ludwig von Mises Institute of Canada.

More in Blog

Rachel-Notley-Sworn-In-2015

A carbon tax is bad for Alberta

Danny LeRoyApril 27, 2016

A proper rejoinder to an empty threat

Patrick BarronApril 17, 2016
bombardier

An Open Letter to Sylvain Levesque of Bombardier

Danny LeRoyApril 12, 2016
RoseWilderLane01

Rose Wilder Lane on the debt

Danny LeRoyApril 11, 2016

German and Dutch objections to ECB QE are ignored

Patrick BarronApril 8, 2016

My letter to the Philadelphia Inquirer re: The consumer always pays

Patrick BarronMarch 29, 2016

Do what I say or I’ll shoot myself

Patrick BarronMarch 29, 2016

Part 2 of my interview re: The end of dollar hegemony

Patrick BarronMarch 26, 2016
People_in_waders_and_boots_working_to_restore_a_pond

Remember the people involved

Danny LeRoyMarch 22, 2016