Lew, those people at Faux News pretty much are repeating the Keynesian canard of spend, spend, spend. No “prominent” economist ever has publicly trashed the “circular flow” analysis that dominates the college textbooks. First, most of the “good” economists call themselves “microeconomists” and pretty much will say, “I don’t know anything about macro.” I have heard that statement more times than I can count. Second, in their ignorance of macroeconomics, they have defaulted to the Keynesian position, so even the free market texts like Gwartney-Stroup and Ekelund-Tollison have the standard Keynesian arguments in their macro sections, complete with the “circular … Continue reading The Curse of Keynes