Presented by Douglas E. French at "The Failure of the Keynesian State," the Mises Circle in Houston, sponsored by Jeremy S. Davis. Recorded Saturday, 23 January 2010. Includes a welcome and introductory remarks.
The New Deal began before John Maynard Keynes propagated his theories. But the state was pleased to have a scientific gloss for its looting, inflating, and controlling ways. The question then and the question now is: does this approach actually stimulate the economy. The Great Depression lasted long past the New Deal. In Japan, the Keynesian way has turned a marvelously productive economy into a stagnant and seemingly permanent mess. What will the same path mean for the U.S.?