Monday, June 3, 2019
On the Fact that (According to the Acclaimed Economic Historian, Robert Higgs) from 1995 to 2000, the Japanese (In an Effort to Get Out of an Already Lengthy Economic Downturn) Went On a Public-Works Spending Binge that Ultimately Consumed Nearly 8% of Their GDP (the OECD Average Was Only About 3.4%)…...and, gee, What a Surprise, it Was an Absolute Failure (Private per-Capita GDP Actually Receding)
And yet in spite of this modern evidence that Keynesianism is a completely discredited concept, Misters Bush and Obama proceeded to pursue this sucker religiously and the end-result was the most pathetic economic recovery in our country's history. Amazing, huh (the level of abject idiocy of our elected officials)?
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