Interestingly, John Maynard Keynes would probably be aghast at how his theories have been used to support bigger government. Before his death, he stated that economic performance would be undermined if government spending exceeded 25 percent of Gross Domestic Product (GDP). Since the burden of government … is more than 30 percent in the United States (including state and local government spending), Keynes would probably be a vigorous advocate of smaller government today.So, if they're true Keynesians, we should end up with smaller govt. But as HP notes, "I wouldn't hold your breath" on that...
Thanks for coming! I plan to post a lot of interesting articles and comment on a wide range of things-- from political to religious, from private to public, from formal writing on public policy to snippets on random observations.
Thursday, February 5, 2009
I did not know that!
Mark Steyn on Keynes and the (potentially) good news application to current political economy (hat tip: Hoosier Pundit via National Review Online):
Government. America's #1 product and likely to be 5 or 6 times our manufacturing sector by 2010.
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