Skip to comments.The magical world of voodoo ‘economists’
Posted on 09/13/2011 2:53:24 AM PDT by 1010RD
If you came up with a bumper sticker that pulls together the platform of this years crop of Republican presidential candidates, it would have to be:
Repeal the 20th century. Vote GOP.
Its not just the 21st century they want to turn the clock back on health-care reform, global warming and the financial regulations passed in the wake of the recent financial crises and accounting scandals.
These folks are actually talking about repealing the Clean Air Act, the Clean Water Act and the Environmental Protection Agency, created in 1970s.
They reject as thoroughly discredited all of Keynesian economics, including the efficacy of fiscal stimulus, preferring the budget-balancing economic policies that turned the 1929 stock market crash into the Great Depression.
They also reject the efficacy of monetary stimulus to fight recession, and give the strong impression they wouldnt mind abolishing the Federal Reserve and putting the country back on the gold standard.
One of them is even talking about repealing the 16th and 17th amendments to the Constitution, allowing for a federal income tax and the direct election of senators landmarks of the Progressive Era.
Not every candidate embraces every one of these kooky ideas. But whats striking is that when Rick Perry stands up and declares that Keynesian policy and Keynesian theory is now done, not one candidate is willing to speak up for the most important economic thinker of the 20th century...
(Excerpt) Read more at washingtonpost.com ...
Neither did Robert Mundell’s.
Of course, ‘most important’ in this case is akin to an Oscar, Pulitzer or Nobel prize - more political than real.
Not to mention that he brought German unemployment down to zero too!
Then he'd remove the cover and show the slope was unchanged going back to the beginning of the 20th century.
He was making the point that the Clean Air Act really didn't have that much to do with making our air cleaner. It was almost all due to technology.
If he have trouble getting your mind around that just remember just about all heating and cooking were done with wood and coal which are far more polluting than gas, oil and electricity (even though about half of it is generated from coal)
Love Julian Simon. I’d love to see that chart. Liberals are famous for their single entry accounting. Why would farm children race for the dehumanizing, industrial jobs in cities? Because they were better than the farm lives they left.
Humanity, independent of our planners and elites, charts an individual course toward betterment. They don’t like not being needed, so they lie.
Fine arts, economics, sociology, history, English, language, wombmyn’s studies, ethnic studies. From my reading of Speer’s memoirs, I think der Führer would fit right in in the sociology department of a 3rd rate community college. Not polished enough for the prime time antisemites and assorted bigots in the Ivy League.
“Hitler vas, shore, a very badt mann, but at least he luft schildern undt docs.”