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In recent issues of Bourbon & Bayonets I’ve discussed some of the costs of this bailout from an academic standpoint. I looked at how this bailout was the result of Keynesian economics whether that’s what it was called or not. A Keynesian run economy is one that may last for many decades before it finally tips.
The most blatant sign of a Keynesian based economy are the business cycles. That’s right; the business cycle is not a naturally occurring process. It is the direct result of liquidity expansions during economic downturns and liquidity contractions at economic peaks.
The excess liquidity results in a…
4Dec2008 | Oxbury Research | 0 comments | Continued
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