‘The Opium of the Intellectuals’ remains the finest work from Raymond Aron. In this work, Aron lays out the complete uselessness of the mythical authority that underwrites all social authorities, especially ones tied to centralizing tenants.
Keynesian macroeconomics is no different.
Here’s something for the illustrious priesthood that has become Lord Keynes and the financial gnomes: just exactly how much additional deficit spending (certainly above $1 Trillion per year) will be required for the American economy to achieve GDP growth exceeding 3%?
Answer: (crickets. . . )
Keynesians will always fail in their omission to attach a dollar value to spending. The cruel moral reality it that govmint spending is conceived of in a vacuum.
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William Holland
