Picture 2

Picture 2
Based on solid evidence, CIA has high confidence Russian hacks were intended to help Trump win.

Nov 24, 2014

Time for a Walk on the Supply Side

The Japanese experience of losing a decade or two with massive deficits failing to boost demand now has been repeated across the developed world, including here in the US. Given these uniformly poor results, isn't it time to reevaluate Keynsian Economics? Keynes' theories were always counter intuitive to me anyway. How could taking resources out of a relatively efficient private sector and moving them to a relatively inefficient public sector make everybody better off? Now that we have done the experiment over and over with disastrous results, it's time to take notice that Reagan's Supply Side Economics seemed to work a lot better than anything we've tried lately. If government deficit spending was the key to prosperity, Greece would be a world leading economy. It appears instead that government deficits are the road to ruin and we should change our ways. This means we should throw Keynes' Theories into the historical interest section and remove them from the practical guide for policy role.