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Keynes was a shallow shyster

Economic illiterate Mike Whitney tries to resurrect Keynes’ reputation in this piece here.

This is rubbish in so many, many ways. 

First, Hazlitt trashed Keynes’ analysis in the 60s – decades before the current crisis – predicting that his soft-s-socialist policies would lead to fascism or economic crisis.  Now that it’s happened, idiots like Whitney are trying to argue there really is a “middle way” it’s just that we went off track somehow.  The track to where we are today started with Keynes blessing the death of the gold standard.

Second, Keynes was a supporter of state controlled fascism.  Apparently so is Whitney.

Third, Whitney says that the Bush Administration was full of libertarians.  Is he kidding?

The only policies that haven’t been tried are libertarian policies of true laissez-faire.  That’s the truth.

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