The failures of Keynesian economics is telling across the world’s left side of politics: Numerous commentators have raised alarming comparisons between America’s recent economic foibles and Argentina’s fall “from breadbasket to basket case.” The U.S. pursues a similar path with her economy increasingly ensnared under the growing nexus of government control. Resources are redistributed for vote-buying welfare schemes, patronage style earmarks, and graft by unelected bureaucrats, quid pro quo with unions, issue groups and legions of lobbyists.…read it all
Australia’s flirtation with Keynes through our own crop of Fabians, has brought us $200 billion dollars of debt, and heading towards the coming basket-case that is the US. Just the economics of the Howard/ Costello years has saved Australia thus far.
Gillard is a Fabian, as are most of the top Labor hierarchy. From the halls of the London School of Economics, Fabians are bringing a series of left leaning governments and the Countries they control, to their knees. Change cannot come soon enough or history is likely to repeat itself.
The article in Forbes concludes with…Even using Republicans as proxies, there was little remotely conservative about fascism. Hitler and Mussolini were probably to the right of our left-leaning media and education establishments, but labeling Tea Partiers as fascists doesn’t indict the Right. It indicts those declaring so as radically Left.
UPDATE: MARKET FAILURE VS. GOVERNMENT FAILURE: We’ve certainly seen a lot of the latter, lately. If “market failure” is an excuse for taking power away from markets, shouldn’t “government failure” be a reason to take power away from government?