9 2 mins 14 yrs

Ilana Mercer is always worth a read and I enjoy this succinct analysis of why the Keynsian Voodoo economics spouted by most politicians, including Obama, deserves to be buried alive.

 

First the history:

“In his attack upon the principle of savings, Keynes merely echoed an old revolutionary stratagem of Fabian Socialists. At the Labour Party Conference in 1923, the Fabians ‘rejected the concept that private savings increase community national assets.’ Even earlier (1916) the Fabians declared ‘large savings by a wealthy class an inherent evil; they increase and perpetuate a functionless, tribute-levying class of rentiers, which is already a dangerous element in the State.'”

Next the “why”:

“The concept of eliminating savings is not an economic one but a political one. If there are no savings there is no private money for investment. Without private investors the government must provide investment capital. If the government provides for investment it has the power to dictate the conduct and processes of those who need investment capital.

“The trick is to get control of the government and then the road to socialism is automatically assured”

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9 thoughts on “VOODOO ECONOMICS

  1. David –

    Thirty seconds of your time:

    "Keynes Politely Explains How to Destroy Civilization"

    http://blog.mises.org/archives/009515.asp

    Yes, Keynesian madness is back in fashion, because we are governed by totalitarians. The economics are incidental, it is all about political control of private lives.

  2. It is indeed communism, but the left get away with it because it isn’t called communism. ‘Keynesian’ sounds almost scientific rather than the financial theft that it is.

  3. So Capitalisms "Golden Era", from 1945 to the 1970s never happened then I guess.

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