What’s wrong with Keynesian economists?

Arthur B. Laffer

Chapter 9 in What’s Wrong with Keynesian Economic Theory?, 2016, pp 165-182 from Edward Elgar Publishing

Abstract: The point that baffles me even more than the failures of Keynesian economic policies is the even greater failure of Keynesian economists’ common sense.Just how can highly reputed economists with their long pedigrees get everything so wrong?The evidence for Keynesian economic prescriptions in times of crisis harkens back to an old adage: “Whenever people make decisions when they are either panicked or drunk, the consequences are rarely attractive.” If you are as convinced as I am of the healing powers of free markets, then the ideal public policies should be: a) a low rate, broad-based flat tax; b) spending restraint; c) sound money; d) free trade; and e) minimal regulations.And, at no time are these healing powers of free markets more important than during periods of crisis.In times of crisis the motto should be “Don’t just stand there, undo something!” History and free markets have our back.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/edcoll/9781785363733/9781785363733.00015.xml (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:16893_9

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().