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<p>[QUOTE=&quot;Cloudsweeper99, post: 1252289, member: 3011&quot;]Thanks for a good summary.&nbsp; I have not read the book so I&#039;ll just make one comment regarding Keynsian economics.&nbsp; The theories are largely true and extremely valuable.&nbsp; But like all things, when misused will not work.&nbsp; There is nothing in Keynesian theory that advocates trillion dollar deficits, but talks about a balanced budget over the business cycle.&nbsp; There is nothing that indicates the government should act agressively to prevent recession, but only to &quot;lean against the wind.&quot;&nbsp; Keynes gets a lot of bad press because of what is happening today, with folks not quite realizing that our government and economic policymakers aren&#039;t following Keynes at all.&nbsp; So the economic theory gets a lot of bad press that should instead go to a bought and paid for government giving money to their friends and handlers in the name of economic policy.</p><p><br /></p><p>So is Keynes superior to Austrian economics or classical economics?&nbsp; Probably not.&nbsp; If policymakers were Austrians or classicists, they&#039;d still mess it up.&nbsp; And if the US just left everything to the free market in a world where none of our trading partners practice it, things would be just as bad or worse.[/QUOTE]</p><p><br /></p>

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