“In a recent screed posing as a blog post, Paul Krugman lets the cat out of the bag: the essence of Keynesian ‘economics’ is giving the Political Classes more power. He writes: ‘…the hatred for Keynesian economics has less, I think, to do with the notion that unemployment isn’t a proper subject of policy than about the notion of shifting power over the economy’s destiny away from big business and toward elected officials.’ In other words, an economy really should be the plaything of the Political Classes, as though they had the brilliance and expertise to make things any better.”
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