'Teaching a new generation old tricks'

Here's a commentary about the re-cycling of old, discredited Keynsian theories.

Noteworthy:

"The current financial crisis has fueled a frenzied recycling of discredited Keynesian ideas. We are hearing again of the need for 'public works,' of the need to 'stimulate' the economy. The Federal Reserve is frantically inflating the supply of money. We are laying the groundwork for a disaster reminiscent of the 1970s—if not worse."

Those of us with sound mind and good judgment knew the truth of that statement some time ago.

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