Keynesian teaches wealth is created by fooling people into investing in things that they would not ordinarily invest in.
But all it does is misallocate investment into things that are unsustainable and that ultimately collapse, like the housing bubble. Or the dotcom bubble. Or the recent mini-bubble in the stock market.
And the only response offered by the Keynesians to their collapsing bubbles is an even bigger bubble.
Nothing can ever be allowed to return to normal in this bankrupt theory. A return to organic growth with investments in things judged to be a value to the people who actually are playing with their own hard-earned money is somehow vastly inferior to the judgement of the illustrious leaders who spend other people's money to make it through the next election.
In other words, when you've used up one credit card, its time to obtain another. And this is the only way to become successful, according to the Keynesians.
To defer consumption and invest in one's ability to produce works for the individual and it works for societies in the long run. And societies that cannot act sustainably, that eat their seed corn before it is even harvested, will fail.
But all it does is misallocate investment into things that are unsustainable and that ultimately collapse, like the housing bubble. Or the dotcom bubble. Or the recent mini-bubble in the stock market.
And the only response offered by the Keynesians to their collapsing bubbles is an even bigger bubble.
Nothing can ever be allowed to return to normal in this bankrupt theory. A return to organic growth with investments in things judged to be a value to the people who actually are playing with their own hard-earned money is somehow vastly inferior to the judgement of the illustrious leaders who spend other people's money to make it through the next election.
In other words, when you've used up one credit card, its time to obtain another. And this is the only way to become successful, according to the Keynesians.
To defer consumption and invest in one's ability to produce works for the individual and it works for societies in the long run. And societies that cannot act sustainably, that eat their seed corn before it is even harvested, will fail.