Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts

When the world financial system failed in 2008, world governments intervened decisively. Guided by economics teams with impeccable credentials, they intended not only to “stimulate” the economy, but to “jolt” it back to borrowing and spending as usual. All of these actions were taken from a playbook devised by British economist John Maynard Keynes, by far the most influential social thinker of the past century.

But … [ Read more ]