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Keynes v. Hayek for Kids

September 27, 2012

The following clip has had nearly 2 million views on YouTube and Round 1 (q.v.) nearly 4 million.

When two men propose theories of the economy to the powers that be, and their respective prescriptions are:

Plan H – Do nothing because it’s impossible to plan an organic system. And get rid of the central bank, it’s causing the booms and busts, or

Plan K – Do everything because you are the smartest guys in the country and can pilot the economy like a plane. Plus, you’ll need a hyperactive central bank to print all the stimulus money you’ll need to fuel your plans.

TPTB are going to promote the ravings of Plan K because it justifies the usury that keeps them in power.

Keynes was a subversive and was well aware of the implications of his “General Theory”, but saw it as a way of wreaking revenge on a society that wouldn’t affirm his behaviour. Keynesianism provides intellectual cover for central banks stealing the wealth of the country through endless rounds of inflation.

Only a sociopath like Keynes could praise war as a solution to economic ills. No one in the Keynes  set would have to die for the recovery.

Those who fancy themselves as world-weary like to quote Keynes’s glib assessment of the long run implications of his usurers’ charter, “in the long run we’re all dead”. This is nihilism pure and simple. For a sterile hedonist that may be a philosophy that works, but for the the thick breeders, for whom Keynes had only contempt, it is a vote for self-destruction. Which is what Keynes wanted.

 

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From → Chapter 1

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