Keynesian Myths

Harry Binswanger talks very eloquently about the current stimulus and the economical philosophy that underlines it. Besides the first few opining paragraphs (which I think detracted from the main theme of the article) it is quite good:

Read it here.

Binswanger sums up recent silliness well by the end of the article:

"It is amazing that in this crisis, which is a crisis of over- consumption, over-borrowing, too little liquidity, the government's idea of a "stimulus" is to encourage more consumption, more borrowing, and less liquidity. It is especially amazing when all these points were known and well explicated by the classical economists, from Adam Smith on."