Keynesian Economics and why it doesn’t work

Learn about the concept of Keynesian Economics and why it doesn't work. One of the main arguments for the economy used by the Progressive Left is Keynesian Economics. The theory is that during slow economic times government spending will stimulate the economy. We saw this during the Obama administration when the president told us about his idea for "shovel ready jobs". Billions were spent on myriad projects, some of which have never been started, some of which were bogus make work projects, and some were outright rewards to Democrat supporters in the way of lucrative contracts. At the end of the stimulus spending the president joked that some of the jobs weren't so "shovel ready". That was a joke about spending billions of dollars on a Keynesian scheme that did not provide the desired results results. In spite of the failure, proponents of Keynesian Economic theory insisted that we did not spend enough and that another round of spending was required. They insisted all that was needed was to borrow and spend more.
Unfortunately, we will never find out if Keynesian theory really works because part of the theory requires that the borrowed money be paid back after the stimulus causes the economy improve. To date the Progressive Liberals have the spending part, they have perfected the art of spending but have yet to pay back anything that was borrowed.
Keynesian Economics is a theory, just like Marxism is a theory. On paper the theorists plan with glee the introduction of their favored theories. In practice, neither Keynesian Economics nor Marxism has ever provided satisfactory results.
Watch this excellent video by Patrick Schwerdtfeger that explains the concept of Keynesian Economics and will also explain why it doesn't work.

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