-By Thomas E. Brewton
As Keynes observed, people often unknowingly are the prisoners of erroneous doctrine propounded by long dead theoreticians, in this case doctrine of Keynes himself.
I have noted before that Wall Street Journal news reporters often display pervasive, sometimes subtle, liberal-progressive-socialist biases. Unlike the Journal’s editorial board writers, among other things, they still parrot the nonsense popularized by economist John Maynard Keynes during the 1930s Depression.
Since Keynesian economics is the reigning school of thought in socialistic academia, it’s no surprise that Keynesian nostrums are repeated, without evaluation, by today’s reporters.
One example is in the Journal article titled The Doomsayers Who Got It Right.
The Journal reporter writes:
Continue reading “Keynes’s Wrong-Turn Hypothesis”