Thursday, February 4, 2010

Keynesiasm Is not Popular With Everyone

Keynesiasm is taking a hit in the article Caroline Baum wrote on Bloomberg yesterday, "Obama’s Pyramid Schemes Would Make Keynes Happy". She writes about her belief that government created jobs are temporary jobs that do not add permanent jobs into the economy. Complete reliance on government policies is a Keynesian prescription, and she is not in agreement. Read her short article for more depth of the argument that is about why we use Keynes' theory when there are others.