{"id":22643,"date":"2017-02-04T09:37:43","date_gmt":"2017-02-04T14:37:43","guid":{"rendered":"http:\/\/olduvai.ca\/?p=22643"},"modified":"2017-02-04T09:37:43","modified_gmt":"2017-02-04T14:37:43","slug":"dont-blame-trump-when-the-world-ends","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=22643","title":{"rendered":"Don\u2019t Blame Trump When the World Ends"},"content":{"rendered":"

Don\u2019t Blame Trump When the World Ends<\/a><\/h3>\n
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There was, indeed, a time when clear thinking and lucid communication via the written word were held in high regard.\u00a0 As far as we can tell, this wonderful epoch concluded in 1936.\u00a0 Everything since has been tortured with varying degrees of gobbledygook.<\/p>\n

The fall from grace was triggered by the 1936 publication of John Maynard Keynes\u2019 The General Theory of Employment, Interest and Money.\u00a0 The book is rigorously indecipherable.\u00a0 What\u2019s more, it has the ill-effect of making those who read it dumber.<\/p>\n

Nonetheless, politicians and establishment economists remain enamored with Keynes\u2019 gibberish.\u00a0 For it offers academic rationale for governments to do what they love to do most \u2013 borrow money and spend it on inane programs.\u00a0 In particular, Keynes advocated filling bottles with money and burying them in coalmines for people to dig up as a way to end unemployment.\u00a0 Somehow, this public works egg hunt would make everyone rich.<\/p>\n

Over the years this reasoning has inspired countless government stunts to save the economy from itself.<\/span>\u00a0 Not long ago, Keynes devotee, Paul Krugman, took this logic and ran with it to the outer limits of deep space.\u00a0 In the process, he seems to have lost his mind.<\/p>\n

According to Krugman, the proper way to propel an economic growth chart up and to the right is to borrow massive amounts of money and spend it preparing for an\u00a0alien invasion<\/a>. Naturally, it takes a Nobel Prize winning economist to come up with such nonsense.<\/p>\n

Better Markets<\/strong><\/p>\n

Unfortunately, Keynes\u2019 drivel became the archetypical for illogical economic thought, and still infects economic discourse to this day.\u00a0 You can hardly browse the headlines of Yahoo finance without your eyeballs being lacerated by it.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Don\u2019t Blame Trump When the World Ends There was, indeed, a time when clear thinking and lucid communication via the written word were held in high regard.\u00a0 As far as we can tell, this wonderful epoch concluded in 1936.\u00a0 Everything since has been tortured with varying degrees of gobbledygook. The fall from grace was triggered […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[7844,12043,458,11763,14745],"class_list":["post-22643","post","type-post","status-publish","format-standard","hentry","category-economics","tag-donald-trump","tag-economic-prism","tag-john-maynard-keynes","tag-mn-gordon","tag-the-general-theory-of-employment-interest-and-money"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22643"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22643\/revisions"}],"predecessor-version":[{"id":22644,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22643\/revisions\/22644"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}