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Keynes Would Have Seen It Coming


Or so we read in the Washington Post. Austrian business cycle theory is studiously avoided, of course, and “animal spirits” are back.

We get one paragraph about the Japanese stagnation of the 1990s, but no acknowledgment at all that none of the Keynesian tools accomplished a thing.

Have at this one, commenters.

Tom Woods, a senior fellow of the Mises Institute, is the author of a dozen books, most recently Real Dissent: A Libertarian Sets Fire to the Index Card of Allowable Opinion. Tom's articles have appeared in dozens of popular and scholarly periodicals, and his books have been translated into a dozen languages. Tom hosts the Tom Woods Show, a libertarian podcast that releases a new episode every weekday. With Bob Murphy, he co-hosts Contra Krugman, a weekly podcast that refutes Paul Krugman's New York Times column.

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