Man Who Oversees $150 Billion Warns Of HyperinflationSubmitted by SheldonFromDownUnder on Wed, 06/19/2013 - 05:28
An interview with Rob Arnott:
“Unfortunately every empirical test of Keynes’ theories has failed. Every empirical test shows it doesn’t work. So you have to ask the question, why is it so popular? Well, it’s the only model for the way economies function that has a major role for government, and a major role for increasing government as being the answer to many of society’s problems.
“So if government wants to grow larger, it’s going to encourage the reliance on Keynes. Therein lies one of the big problems. We’re addicted to Keynesian economics. We’re seeing it fail again, and again, and again. So the answer seems to be, ‘Well, let’s try more Keynes. Let’s do it more aggressively. Let’s go to hyper-Keynes.’”
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