Cafe Hayek — where orders emerge

Cafe Hayek — where orders emerge: "The reaction to the May employment report has been depressingly predictable: Republicans have been gleefully proclaiming that President Obama’s fiscal stimulus didn’t work. Many people who commented on my post about the political impact of the job figures parroted the same line, arguing that the lacklustre economy demonstrates Keynesianism is a bust.

Having spent much of the past three years reading and writing about this subject, I wonder whether it is even worth engaging with these arguments. The aversion to government spending, and government activity generally, which animates many Americans isn’t actually based on economics, or logic: it is an emotionally driven belief system, founded upon a cockeyed view of American history and buttressed by a variety of right-wing shibboleths."

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