Comments on: February Financial Times http://gcfin.com/2008/02/february-financial-times/ Loudoun Health Insurance. Small Business Benefits. Life, Health, Community. Fri, 10 Sep 2010 04:59:41 +0000 http://wordpress.org/?v=2.7 hourly 1 By: wdporter http://gcfin.com/2008/02/february-financial-times/comment-page-1/#comment-94 wdporter Mon, 25 Feb 2008 21:26:26 +0000 http://gcfin.com/2008/02/february-financial-times/#comment-94 I like the first section taking Keynesian economics to task. It was a great theory that has been fine-tuned and honed and winnowed over the decades but still comes down to three simple principles that even Keynes himself really did not approve of: 1) Debt is OK as long as you can keep spending. 2) The Government is a better arbiter of economics than the market. 3) It's not OK to have a recession. Neither of these are true original Keynesian principles yet they have been responsible for most of the financial risk we now face. See what Alan Greenspan had to say about it: <a href="http://business.timesonline.co.uk/tol/business/economics/article577864.ece rel="nofollow">Speech to Federal Reserve Board, Feb. 2005</a> And <a href="http://en.wikipedia.org/wiki/Keynesian_economics rel="nofollow">Wikipedia's article is OK, as well. I like the first section taking Keynesian economics to task. It was a great theory that has been fine-tuned and honed and winnowed over the decades but still comes down to three simple principles that even Keynes himself really did not approve of:

1) Debt is OK as long as you can keep spending.
2) The Government is a better arbiter of economics than the market.
3) It’s not OK to have a recession.

Neither of these are true original Keynesian principles yet they have been responsible for most of the financial risk we now face. See what Alan Greenspan had to say about it:

Speech to Federal Reserve Board, Feb. 2005

And Wikipedia’s article is OK, as well.

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