Searching for Truth while debunking Establishment point men.

Wednesday, February 24, 2010

Deathbed of Keynesian Economics Will Be in U.K.

By Matthew Lynn

Feb. 23 (Bloomberg) -- The U.K. has produced notable economists over the years, but John Maynard Keynes, the guru of government intervention, was one of truly global significance.

So it may be fitting that the U.K. will also become the deathbed of Keynesian economics.

Britain has been following the mainstream prescriptions of his followers more than any developed nation. It has cut interest rates, pumped up government spending, printed money like crazy, and nationalized almost half the banking industry.

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Comment: This article makes a good point, Keynesianism is on its deathbed - much like global warming - but the much like that issue the troops will circle the wagon and toss out red herring after red herring to save the Orthodoxy.

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