Death of Keynesianism?

A charmer: http://www.marketwatch.com/story/death-of-keynesianism-2011-06-10?dist=afterbell Unfortunately, there is not one iota of evidence or study that anything that Stephen Stanley says has ever worked. Indeed, "supply side" deregulation is what got us into this mess. "Helicoptering" of money into the economy is Milton Friedman 101. Good old Keynesianism, instituted by Paul Volcker under Jimmy... [more]

A charmer: http://www.marketwatch.com/story/death-of-keynesianism-2011-06-10?dist=afterbell Unfortunately, there is not one iota of evidence or study that anything that Stephen Stanley says has ever worked. Indeed, "supply side" deregulation is what got us into this mess. "Helicoptering" of money into the economy is Milton Friedman 101. Good old Keynesianism, instituted by Paul Volcker under Jimmy Carter, is what caused the Reagan Economic Miracle. Reagan and George II caused the deficit spending that has got us where we are today. Richard Nixon - no Keynesian he - dumped the gold standard. All of S.S.'s ideas sound great on paper - not one of them has ever worked, and not one of them has any empirical support. If you want a communist revolution, get rid of unemployment insurance and see what happens then. [less]