Liberty Maven

This new video from the Center for Freedom and Prosperity Foundation takes a look at Keynesian Economics from both theoretical an practical, real-world perspectives.  It does a decent job at quickly explaining why Keynesianism doesn’t work, even in theory, but falters when the host (Dan Mitchell of the Cato Institute) says:

…we should quickly note that government could finance stimulus spending by printing money rather than borrowing, but thankfully that idea doesn’t seem to be on the table since almost all politicians now realize that it would be foolish to mimic the disastrous inflationary policies of basket case economies such as Argentina and Zimbabwe.

Unfortunately, that’s exactly what the Federal Reserve has been doing, and with great fervor.

Then it goes on to give a multitude of examples of how Keynesian policies have failed throughout history, beginning with the Great Depression.  Take a look.