The late, great American humorist, Will Rogers, observed many years ago that the phrase "in a nutshell" was used appropriately by politicians to summarize complex ideas because, he said, "...that's where a lot of these ideas come from -- a nutshell."
In keeping with the Rogers nutshell theory, there was an appropriate lead article in Sunday's New York Times Magazine annual "ideas issue," written by someone named Robert Skidelsky, identified as the author of “John Maynard Keynes: 1883-1946: Economist, Philosopher, Statesman.”
Skidelsky tried to explain the economic theories of his famous but dead subject, the long-time hero of big spending, big government liberals for decades. Skidelsky ended, as the prescient Will Rogers knew he would, by writing: "This, in a nutshell, was Keynes’s economics."
The author claimed that "the great economist John Maynard Keynes....is justly enjoying a comeback," an apparent reference to president-elect Barack Obama's plan to spend trillions on a panoply of his favorite big government projects in the mistaken Keynesian theory that government deficits and debt will somehow cure what ails the American economy.
Arm Yourself With Truth
Fortunately for you, dear reader, you can not only arm yourself for the coming verbal wars, but also become the most knowledgeable person on your block by viewing the Cato Institute's Dan Mitchell's excellent new video, bluntly entitled "Keynesian Economics Is Wrong: Bigger Government Is Not Stimulus."
Produced and published by the Center for Freedom and Prosperity, it runs a short seven minutes long and exposes the fraud of Keynesianism in simple but extensive detail. It should be made required viewing in every Capitol Hill office, as well as the Office of Presidential Transition.
I urge you to view it and you might also want to support the Center for Freedom and Prosperity in this and their other worthy endeavors.
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