Among the most important components of the liberal catechism is the belief in Keynesian economics, the idea that flooding the economy with borrowed dollars will stimulate demand which, in turn, will power us out of recession ( “Obama can’t kick the stimulus habit,” Comment & Analysis, Wednesday).
Many economists think that the Keynesian approach has been discredited over the course of time, and it certainly has not worked as advertised during our current troubles. Nevertheless, it remains a numinous concept for the faithful, to be clung to with a tenacity approaching that which some of us employ with our guns and Bibles. There is an easy out when it fails - just blame the Republicans. The implication is that if only we were a one-party state, wherein all 535 members of Congress were Democrats, happy days would be here again, everything just hunky-dory.
In his autobiography, Carl Jung, founder of the school of analytic psychology, wrote of political absolutism: “Under its dominion, the individual is pauperized.” Of fealty to failed ideals, he wrote: “Every form of addiction is bad, no matter whether it be alcohol, morphine or idealism.” These insights might benefit the president and his congressional supporters.