Sunday, November 28, 2010

Is Obama A (Cargo Cult) Keynesian?

American Thinker: Cargo-Cult Keynesians: "When the war ended, so did the stream of American goods. But the islanders had a plan. Constructing fake airplanes on the abandoned landing strips, they entered the rickety control towers and spoke into objects similar in form to microphones in order to persuade the Gooney Birds to return with their largesse. It was a concrete example of the ancient magical formula that like begets like, and it worked the same as it ever does. For all I know, they're still waiting.

Fast-forward several steps in civilization to John Maynard Keynes. There exists a misunderstanding about Keynes and his economic theories. These comprise no formula for gross evil or the undermining of democracy. In fact, they are serious attempts to create something on the order of a unified field theory for the economic universe. As such, they are marked by serious flaws, the most critical originating in a profound misunderstanding of human nature. As an upper-class Englishman, Keynes had little grasp of the concept that human beings will use any excuse to act badly, even if it's an abstruse economic theory."
Which reminds me of this absolutely hilarious little ditty: