“Some people are like Slinkies - not really good for anything,
but you still can't help but smile when you see one tumble down the stairs.”
the courage to do nothing...
I especially recommend the lead article, The Dangers of Keynesian Economics. Don't be daunted by the title. It gives a lucid explanation for why Keynesian theory (and FDR's New Deal) extended the Great Depression in the USA by several years. Australia and UK applied Classic Theory principles and our recovery was much faster than that in the US.Sadly, lessons were not learnt and our current leaders in all three countries are trying the same Keynesian theory that failed last time, that is throw money at the economy in the hope of increasing demand. It didn't work in the 1930s and it ain't gunna work in this century. Lack of demand was not the problem then and it is not the problem now. What has to be done is lower the costs of business, so businesses can stay in business and provide jobs.
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