Chapter 12 - Post Only

In the video Ryan McMaken argues that Keynesian economics is flawed because it says that the government can fix the economy by spending more money, but in reality it just creates bigger problems like inflation, debt, and economic crashes later on. He says printing money and boosting demand could be somewhat benificial in the short term, but it ruins the natural market and leads to things like recessions and falling wages over time. John Stossel then asks why, if that’s true, that his side is losing the debate. McMaken says it’s because people want to believe Keynesian ideas, since they promise free benefits and government help, which sounds good even if it’s not actually helpful in the long run.