Where Keynes Went Wrong?
This week we’ll have a little survey of various opinions on the cause of our economic difficulties. Up first author and financial advisor Hunter Lewis. Lewis has also held many positions on various charitable organizations.
In a Forbes.com video, author Hunter Lewis says that former Fed Chief Alan Greenspan’s return to Keynesian economics is what lead to current economic problems. He also said the that the quite different actions by former Fed Chief Paul Volker during the 1980s brought about the Reagan prosperity era.
Lewis also say that “recessions are necessary,” and debt is what caused our problems. He continues to say that this debt came from the housing problem, and the housing problem came from the dot.com problem. For more on this, see Lewis’ book, Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts.
Tomorrow: some views from economist Paul Krugman
Wednesday: political commenter Kevin Phillips with a viwpoint that the Reagan era was not all that some say it was