[lentulusgracchus]

[Art.] Nevertheless, the Keynesian economists have staged a political comeback during the Obama administration. Janet Yellen's nomination to head the Federal Reserve is the crowning example of that comeback.

But it isn't an intellectual triumph but a political one, which rides on the back (careful! </off Church Lady>) of Barack Obama's successes at imposing unconstitutional appointments and new laws, and his iron partnership with the State-Run Media which allows him to dominate political discourse like Alexander once did Persia.

Ms. Yellen asks: "Do policy-makers have the knowledge and ability to improve macroeconomic outcomes rather than making matters worse?" And she answers: "Yes."

This is called hubris. My question is, what is it going to cost us to find out that a) it's untrue and that b) liberals and Keynesians have a lot of swollen heads?

[jazusamo]

Have no idea what it’ll cost but it’ll be a lot, Yellen will make sure of that.