The U.K. has produced notable economists over the years, but John Maynard Keynes, the guru of government intervention, was one of truly global significance.
So it may be fitting that the U.K. will also become the deathbed of Keynesian economics.
Britain has been following the mainstream prescriptions of his followers more than any developed nation. It has cut interest rates, pumped up government spending, printed money like crazy, and nationalized almost half the banking industry.
Read the whole column at Bloomberg:
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See Also:
- Hayek Versus Keynes: A Hip Hop Battle
- John Maynard Keynes On What The Stock Market Will Do
- Krugman: Republican Senators Are The Enemies of Any Serious Financial Reform
Full story at http://feedproxy.google.com/~r/businessinsider/~3/NygY9_l9NgA/keynesianism-finally-comes-to-its-grave-in-the-uk-2010-2
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