Deathbed of Keynesian Economics Will Be in U.K.: Matthew Lynn | Project World Awareness

Feb. 23 (Bloomberg) — The U.K. has produced notable economists over the years, but John Maynard Keynes, the guru of government intervention, was one of truly global significance.

So it may be fitting that the U.K. will also become the deathbed of Keynesian economics.

Britain has been following the mainstream prescriptions of his followers more than any developed nation. It has cut interest rates, pumped up government spending, printed money like crazy, and nationalized almost half the banking industry.

Short of digging Karl Marx out of his London grave, and putting him in charge, it is hard to see how the state could get more involved in the economy.

via Deathbed of Keynesian Economics Will Be in U.K.: Matthew Lynn | Project World Awareness.

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Filed under Economic Collapse, Economics, UK

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