Hear hear! Funny, Nazi Germany did a MUCH better job of turning around their economy in the 1930’s using much more public debt than either the US or Britain. If Keynes’ theories are so good, why did Albert Speer do so much better in Nazi Germany?
Anybody remember the movie “Ghost Dad” where Bill Cosby as a ghost goes through the phone to scare his daughter’s boyfriend? Too bad Hayek couldn’t come back and put the fear of God into a certain Forbes’ author’s head.
Note: the Nazis’ massive debt would have led to war sooner or later and the economic recovery was made by eliminating unemployment through conscription and a steroided military industrial complex. I in no way endorse those policies, just pointing out an example where reality interferes with Keynes and his lingering supporters.