"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Neo-Keynesian Trap
"The grand global debate in political economy boils down to Keynesian stimulus vs. austerity. Stripped of rhetoric, the debate is much the same in nominally communist China, socialist Europe, and notionally free-market America: should the central state continue borrowing and spending enormous sums of money to maintain or restart economic growth (Keynesianism), or should it live within its means (austerity)?"
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