The Humble Libertarian

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Monday, August 27, 2012

Dancing on the Grave of the Keynesian System



John Maynard Keynes - economist to statists, warmongers, socialists, Marxists, empire buildings, totalitarian thugs and oppressors everywhere. But Gary North is convinced Keynesian economics will finally be defeated.
The collapse of the Soviet Union in December of 1991 was the best news of my lifetime. The monster died. It was not just that the USSR went down. The entire mythology of revolutionary violence as the method of social regeneration, promoted since the French Revolution, went down with it. As I wrote in my 1968 book, Marxism was a religion of revolution, and Marxism died institutionally in the last month of 1991.

Yet we cannot show conclusively that "the West" defeated the Soviet Union. What defeated the Soviet Union was socialist economic planning. The Soviet Union was based on socialism, and socialist economic calculation is irrational.
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LewRockwell.com 

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