Tuesday, December 2, 2008

Armchair Keynesianism

Some well-timed sarcasm from a cigar-waving Fred Thompson. "This holiday season, spend more than you can possibly afford."

(Via Jennifer Rubin.)

UPDATE: Lest my headline give the impression that I'm hostile to everything Keynesian, I'll say that it's really "vulgar Keynesianism" -- which translates to "let's spend a lot of money" -- that's at issue here. How much Keynesian theory tells us about macroeconomics is a subject on which the jury is still out, in my opinion; Greg Mankiw has an interesting post on such matters here.

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