Krugman, Keynes And The Economy

John Lindauer has written an article in Seeking Alpha discussing the current economic problems in the USA and the rest of the world.

While he agrees in principle with Paul Krugman that Keynesian economics has value, he doesn't see it being accepted quickly enough in the USA to be effective.  By the way, this blogger has changed his negative opinion of Keynesian economics after seeing evidence that it has worked in the past when other policies have not worked.  For example, from World War II into the 1970's, the US economy was primarily influenced by Keynesian ideas and was one of the most successful economic periods in US history.  Conversely, the decade of the 2000's was dominated by "classical"/"supply-side" economics and we are now left with an economic mess.

Food for thought:  If you believe that one political party has a consistently superior economic record over the long term, check out this analysis in 2008.

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