Fear the boom

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malthus says:

January 26th, 2010 at 4:15 pm

Keynes views "sticky wages" as the root cause of unemployment. He then recommends inflation as a means of reducing marginal wage rates. He would have us believe inflation relieves unemployment. However, we know this policy is flawed because the Carter administration was plagued by inflation and unemployment simultaneously–stagflation.

Hayek was not perfect, but his realization that easy credit is the root cause of the boom/bust business cycle makes him the more credible economist. Keynes is a charlatan; he is only popular because his bromides embolden politicians to spend money recklessly.

DougThorburn says:

January 27th, 2010 at 8:24 pm

This is the best political-economics video I've ever seen. Not only do the writers understand both Keynes and Hayek, but they even portray Keynes as the alcoholic I've long suspected he might have been. FYI: I've authored four books explaining first and foremost that alcoholism causes egomania, which impels the addict to wield power over others. Keynes's work is nothing but how politicians can wield power, and he derived enormous power by telling politicians what they want to hear. Anyone interested in my work can google my name or go to preventtragedy dot com.

Housing Doom

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