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No, All Economists Do NOT Agree! September 17, 2012 8:32 AM | Tagged as Hayek, Keynes, macroeconomics

 Ref: WSJ September 17, 2012 Page A19 “The Magnitude of the Mess  We’re In” by Shultz, Boskin, Cogan, Meltzer and Taylor of the Hoover Institution

 

 

When you hear those on the left, in support of some Keynesian poppycock, say things like “All economists agree…”, you can take note that there is no broad consensus among macroeconomists on almost any idea. The left knows this, but lies to support their theories which were long ago debunked (as the referenced article states) by “economic theory, empirical studies and historical experience”.

Read this reference to understand the depth of the morass into which our current administration (and to a degree the prior administration) is leading us. This article is written by eminent Hayekian economists who totally disagree with our nation’s direction. These five “Hooverites” posit to rescue our nation …

“…The fixes are blindingly obvious. …the solutions are the lowest possible tax rates on the broadest base, sufficient to fund the necessary functions of government on balance over the business cycle; sound monetary policy; trade liberalization; spending control and entitlement reform; and regulatory, litigation and education reform. The need is clear. Why wait for disaster? The future is now.”

No, Ms. Pelosi, all economists do not agree…on much of anything.


Posted By The Biz Bucks Guy
Posted in MacroEconomics | 0 Replies

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