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Archive for May 27th, 2013

Keynesian Economics, R.I.P.

Monday May 27th, 2013   •   Posted by Burt Abrams at 10:59am PDT   •   8 Comments

In 2009, Keynesian economists in the Obama administration were downright giddy with excitement. The American Recovery and Reinvestment Act (ARRA) passed by congress was the “biggest peacetime fiscal stimulus in U.S. history” that promised to return the economy to full employment in short order. The Act’s $787 billion (equivalent to about 5% of our national output) in…
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