by Monty Pelerin
Monty Pelerin’s World
The stage of most modern economies can be described by 3Ds — Demographics, Debt, Demise. The first two are strangling us and will lead to economic and perhaps social demise.
Most people look around and understand something is terribly wrong with economies of the world. There is no need for an advanced economics degree to reach that conclusion. Perhaps the absence of such training makes it easier to recognize the weaknesses and fallacies in the last three or more decades of insane economic policy.
Keynesian Economics is all that most people know. Its adoption is primarily responsible for the current state of the world. To be exceedingly generous to Keynes, were he alive he certainly would reject some, perhaps most, of what has soiled his name and economic analysis. How much, however is moot. Current-day believers have extended his remedies to areas that he perhaps would consider erroneous.