Common Sense

PERHAPS the sentiments contained in the following pages, are not yet sufficiently fashionable to procure them general favor; a long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defence of custom. But the tumult soon subsides. Time makes more converts than reason. -Thomas Paine (1737-1809). Common Sense, 1776

Monday, June 28, 2010

Learning curve

~"There is a test of Keynesian economics going on all around the world.  In the U.S., in Europe, even China.  The idea is that you can spend yourself out of an economic downturn.  This is an experiment that has never been tried before."--Dan Hertzberg, Editor Wall Street Journal, BBC WORLD NEWS, February 9, 2009, ~06:37:06
"We're all Keynesians now." --U.S. President Richard Milhous Nixon, 1971
"It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics ...where it is often impossible to bring one's ideas to a conclusive test either formal or experimental." --The original Keynesian, John Maynard Keynes, December 13, 1935 from introduction to his "THE GENERAL THEORY of EMPLOYMENT, AND MONEY"
The Keynesian Dead End, Spending our way to prosperity is going out of style --, JUNE 26, 2010

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