Blogs > Liberty and Power > Keynesianism's Last Stand?

Oct 16, 2008

Keynesianism's Last Stand?




It appears to me that with respect to Keynesianism today, it is more appropriate to use the term,"Comeback," although one might argue that when Richard Nixon announced,"We are all Keynesians now," that was rather a recognition of its triumph here.

I do prefer the term"Corporatism," rather than Mercantilism to describe what is happening globally, and the triumph might best be called,"El Duce's," or"Benito's," or"Mussolini's Triumph." Or, perhaps HHG Schacht's, as his minions were literally in the saddle even in Japan after 1946, and up to the present.

Big Gov't interacting in the interests of Big Corporate, Oligarchic, Plutocracy, appears bigger and more powerful than ever as Wall St. & the Gov't attempt to deal with the present crisis in Finanz Kapitalismus, and which will now have enormous repercussions in both of what might be called Industrial or Entrepreneurial Capitalism. One wonders if they even have to have outright political power in the presidency or the Congress, as the Courts and the bureaucracy now give them a range of powers including antitrust, patents, copyrights, etc., just as Murray Rothbard predicted, causing an enormous"gridlock" in the introduction of innovative ideas.

We don't even have the strength to introduce the protections against this that the small Greek states attempted to use as per Aristotle's critique, or that the Italian City States used later in an attempt to preserve both Republicanism and Democracy. And, that doesn't even include what Ike called the"M-I Complex," to which Fulbright added the Universities, which has yet to be overtly heard from in the present crisis, but are just as real as when they elevated one Julius Caesar to power in Rome. Machiavelli, a small republic, guerrilla organizer certainly recognized the beast! Some Dare Even Call it"Empire!" Sic Semper Tyrannis, but they appear at present virtually everywhere triumphant!



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