Saturday, January 2, 2010

Hunter Lewis: Keynesianism is an Intellectual Bubble

Embedded below is a short interview with Hunter Lewis, the author of Where Keynes Went Wrong.  We have not read this book yet but after reading a bit of Keynes ourselves, Mr. Lewis is basically stating word for word what we have been saying on this site.  Specifically, Lewis states that:
  • Behind all of the bubbles that we have had is a Keynesianism intellectual bubble
  • It’s Keynes's playbook that is guiding all of these policies and programs - print a lot of money, reduce interest rates, bailout failing financial institutions and government stimulus
  • Keynesianism is appealing to politicians because it helps them get through the next election.
  • Keynes basically felt that you couldn’t have too much debt.
Watch the Hunter Lewis interview (link here):

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