Keynesian fail – manipulating “aggregate demand” does not equalibrate the supply and demand for inputs

A basic understanding of the price mechanism exposes the pseudo-science of Keynesian economics:

It was John Maynard Keynes .. who ultimately succeeded in rehabilitating a view long the preserve of cranks ..  He had attempted by a succession of new theories to justify the same, superficially persuasive, intuitive belief that had been held by many . . . → Read More: Keynesian fail – manipulating “aggregate demand” does not equalibrate the supply and demand for inputs

Housing bust stalls labor “recalculation”

Someone send an email to Arnold Kling about this.

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What looks superficially like the most scientific procedure is often the most unscientific. — F. A. Hayek

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