Keynesian Economics vs. Austrian Economics

I consider myself to be a quasi-Austrian economist.  I don’t believe everything that the Austrians do, and I am quite skeptical of some of their theories.  But Austrian economics makes a lot more sense than Keynesian economics, and it is more realistic to boot:

Keynesian vs AustrianA whole religion school of economics is devoted to the theories of a man who didn’t know economics.  A man who advocated using government debt to fix the economy.  A man who believed that government could fix everything by engaging in monkey business.

Contrast this to Austrian economics, which is not based on the theories that some old English guy pulled out of his butt, but on observations of actual economies throughout history.

 

Advertisements


Categories: Econ 101, Economics, Government Shenanigans, Keynesian Economics

Tags: ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: