- Texas man arrested for powder-letter hoax
- Islamic State opens ‘marriage bureau’ for single jihadists
- Drone almost blocks California firefighting planes
- Tornado rips off roofs, downs trees near Boston
- GOP: Environmental rules keeping agents from accessing border
- John Kerry: Millions displaced by religious fighting in 2013
- Federal appeals court rules against Virginia’s gay marriage ban
- White House says Russia ‘losing’ war in Ukraine
- Hamas turns to North Korea for weapons deal, Iran for money
- Syrian casualties surge as jihadis consolidate
LETTER TO THE EDITOR: The Keynesian fairy tale
Question of the Day
Keynesian economics, religiously advocated by liberals in the media, academia and government, calls for expanding government to spur economic recovery. But expansion of government is like expanding the Earth’s atmosphere under the assumption that more air will spur human beings to increase their work effort. Wrong.
The economic output of each individual is limited by his biological processes. Increasing government won’t induce him to work harder.
It is clear that Keynesian economics, with its insistence in growing the size of government, will never induce those who rely on government to augment their own efforts. Keynesian economics is nothing more than an economic fairy tale.
MATTHEW R. POWENSKI
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
TWT Video Picks
By Scott Pinsker
Get Breaking Alerts
- D.C. seeks to stay judge's order allowing gun owners to carry in public
- Illegal immigrants demand representation in White House meetings
- Hillary Clinton: Forget Obama, George W. Bush made her 'proud to be an American'
- Babson College, BYU win top spots in Money magazine's college rankings
- Iraqi Christians rally at White House: 'Obama, Obama, where are you?'
- White House defends Kerry failure to broker Middle East cease-fire
- Romney would win popular vote in rematch against Obama: CNN poll
- D.C. seeks stay in order striking down ban on handguns in public
- Tennessee Gov. Haslam slams White House for secret dump of illegals in his state
- Computer glitch caused odd Saturday release of D.C. guns ruling