Head of Vatican Bank Warns Against Keynesianism

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Ettore Gotti Tedeschi, head of the Institute for Religious Works, the Vatican bank, has warned the governments of the US and Europe of a catastrophe ahead, due to greater and greater government control of economies. He denounces Keynesianism, and recommends a great Austrian work, Where Keynes Went Wrong, by Hunter Lewis. NB: the Vatican, as a voluntary society and not a state, does not, of course, have a central bank, but its own financial institution for its worldwide charities. (Thanks to Robert Blumen)

7:29 am on January 23, 2011