The “Stimulus” as Political Hackdom

Franklin Harris writes:

Proof that most (all?) Keynesians are hacks: Any honest Keynesian i.e., NOT Paul Krugman) would reject this “stimulus” bill because
it’s not even stimulus in Keynesian terms. Money to early education
for example is, by definition, geared toward the long run, and didn’t Keynes say we’re all dead in the long run?

This bill fails in Keynesian terms because of all of the rent seeking and other Public Choice behavior, and it fails more fundamentally because Keynesianism is just flat-out wrong (and Hayek and Mises were right). That the New York Times fails to recognize the latter is to be expected. That it cannot even recognize the former proves its hackery.

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1:22 pm on January 30, 2009