Sunday, February 15, 2009

Obama and John Keynes: We are All Keynesians Now

John Maynard  Keynes was a British economist and philosopher of the interventionist ideology,  believing that government spending could pull an economy out of recessions and forestall depressions.  Keynesian economics is being used to justify the Stimulus plan,  but is causing much backlash and resnetment from those who believe Keynes was wrong,  and proved so.  So far,  it would seem that Obama's stimulus was not so much the product of a bipartisan effort as it was simply a  sweeping Democratic project whose implications have yet to be fully revealed.  "Why didn't Obama Educate Us?"  screams a headline in the New Republic,  and that question may be answered simply :  He didn't have to.  The urgency of the situation means that government and checks and balances and bipartisenship are all a clumsy monster dragged in the train of expediency and emergency and stop gap measures.  The Repubilcans waited to long,  When you open a door,  you have to accept whatever comes through. . .

No comments:

Under New Influence