zerohedge.com / by Tyler Durden / Feb 3, 2017 7:55 PM
Submitted by MN Gordon via EconmicPrism.com,
There was, indeed, a time when clear thinking and lucid communication via the written word were held in high regard. As far as we can tell, this wonderful epoch concluded in 1936. Everything since has been tortured with varying degrees of gobbledygook.
The fall from grace was triggered by the 1936 publication of John Maynard Keynes’ The General Theory of Employment, Interest and Money. The book is rigorously indecipherable. What’s more, it has the ill-effect of making those who read it dumber.
Nonetheless, politicians and establishment economists remain enamored with Keynes’ gibberish. For it offers academic rationale for governments to do what they love to do most – borrow money and spend it on inane programs. In particular, Keynes advocated filling bottles with money and burying them in coalmines for people to dig up as a way to end unemployment. Somehow, this public works egg hunt would make everyone rich.
Over the years this reasoning has inspired countless government stunts to save the economy from itself. Not long ago, Keynes devotee, Paul Krugman, took this logic and ran with it to the outer
Read more ... source: The Bitcoin Channel
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