"Those, who are strongly wedded to what I shall call 'the classical theory', will fluctuate, I expect, between a belief that I am quite wrong and a belief that I am saying nothing new. It is for others to determine if either of these or the third alternative is right."
John Maynard Keynes
(1883-1946) British economist
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Reader comments about this quote:
Well, I suppose it depends on what the intended goal was to be. If the objective of Keynesian economics was to centralize power into the hands of a cabal of internationalist bankers to lay claim to all the capital of the world and 'loan' it to us at interest, then YES, Keynesian economics works -- and that is who Keynes worked for. Of course, as a result, booms and busts and the theft of nearly every nation's wealth and productive capacity has been the price -- was it worth it? You bet, that is if you are part of the global aristocracy. But if you count yourselves among the common man, you can plainly see that since Keynesian economics, America has 'progressed' from the most productive and powerful nation on Earth to the largest debtor nation on Earth -- hey, it is simple, do the math, when you trade in all the nation's gold to the banks in exchange for a system of debt, the more 'money' you make, the more in debt the nation is in. That is because in Keynesian economics, currency is not issued as 'markers' for real gold/silver stored in a vault somewhere, but in fact currency is literally created out of thin air when someone goes to a bank and 'borrows' it -- the money did not exist until someone signed a promise to pay -- and of course, interest is charged for the privilege. Then, in order to pay the 'loan' back, the borrower needs to find more money somewhere -- and since all 'money' is 'borrowed' someone somewhere is going to have to borrow more. That is why today, the only way to make it in business is to have a permanent credit line. But the crazy thing is, that the more we produce, the more currency we will need to trade for it, and thus more debt required. Here is Keynesian economics in a nutshell: every so-called dollar in circulation (whether cash, cheque, or electronic transfer) has been borrowed and someone somewhere is paying interest on it, and the more money we have, the greater our debt. The ugly truth: when a 'loan' is repaid, the 'money' disappears as it is no longer in circulation -- if we tried to pay all our debts, there would be no more money in circulation, and we would still owe more! KEYNESIAN ECONOMICS IS GLOBAL HEGEMONY.
 -- E Archer, NYC     
    History has proven him very wrong from the depression to Japan and now to our current problems. Keynes theory is only perpetuated by those who wish to centralize power. No one of intelligence could suggest it based on results.
     -- J. Allen, Arlington, Va     
    He's always been not just "wrong" about printing "rosebuds while ye may" money, but knew well what he was about bankrupting the world with it's total control as an end in itself for his "chosen" group of UBS, WB, IMF, NWO, Fed, ISAF, etc. They will have totally succeeded when America "defaults" and we are all driven into serfdom, penury and peonage. Congress is so full of contempt and ignorance for even the semi-enlightened American public that they will not obey and prosecute even the Constitution in these monetary matters, ie. Art. 1, sec. 8, par. 6, (counterfeiting), and par. 5, ( "coining" of money, which should be reinterpreted for a GNP based fiat IMO).
     -- Dr. Tom LaMar, Keeseville, NY     
    I'm not sure how to rate this quote or comment on it with stars - its a simple statement that others may find him wrong, right, or something else (accurate in its depiction). Archer expressed one of the most flagrant dichotomies of Keynesian economics very well. Patrons of statist theocracies sing praises to Keynesian applied tithes, offerings, and otherwise extraction of affluence, assets, and worth, as it substitutively transfers all wealth to their gods. My thumbs down rating is for the enormous pain, suffering, poverty, and devastation Keynesian economics has reeked.
     -- Mike, Norwalk     
    This from the same man who said: "I work for a government I despise to ends I think evil"
     -- J Carlton, Calgary     
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