THE CONSEQUENCES OF KEYNESIANISM

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, March 16, 1993                   TAG: 9303160358
SECTION: EDITORIAL                    PAGE: A6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short
THE CONSEQUENCES OF KEYNESIANISM
JOHN Maynard Keynes was an intelligent jerk. He was not a serious economist but, variously, a propagandist for labor unions, a demagogic advocate of Marx's exploitation theory, and a hater of businessmen and capitalism.
You have recently published non-intelligent articles by a jerk named Robert Reno, such as the one March 1, " `Conservative slobs' put U.S. in its mess." He is an admitted Keynesian. I'm not a conservative.
Permit me to give you a synopsis of Keynes' economic theories. If you don't believe me, then study Keynes. I don't think you'll do so.
Famous for advocating a number of bizarre tenets.
Believed that wealth and prosperity come not from saving and production but from spending and consumption.
Thought unemployment resulted not from wages obtained by government-protected labor unions in excess of market-clearing levels, but from a reluctance by government to inflate the money supply and raise the price of every product in the economy.
Believed in the "socialization of investment and credit" as the best way to ensure that the right economic projects were pursued, citing the Soviet Union as the most promising illustration of such a system.
Free trade and the international gold standard caused conflict and war; protectionism and trade barriers promoted peace and harmony.
Viewed Wall Street as a casino.
Had enough? No? Then suffer the consequences of Keynesianism. Your children surely will. ASA COLEMAN BIG ISLAND

by Archana Subramaniam by CNB