Saturday, November 05, 2011

Keynesian Economics

I learned a new word: "Keynesian."  Apparently it means this:  "The free market sometimes makes imperfect or "inefficient" decisions so we should give some market control over to an entity that consistently makes terrible and wasteful decisions."  That, of course, is paraphrased - a Keynesian would never admit that's what he or she is suggesting - but it definitely is an accurate way to describe the school of thought.

Keynes is another example of why academia is mostly a waste of time and money.  Before we fire the lawyers into the sun, we should get rid of the economists, the sociologists (including cultural "anthropologists"), and the political "scientists."