broken image
broken image

EST. 2021

    Apply Here
    • Curriculum
    • Testimonials
    • FAQ
    • …  
      • Curriculum
      • Testimonials
      • FAQ
    broken image
    broken image

    EST. 2021

    • Curriculum
    • Testimonials
    • FAQ
    • …  
      • Curriculum
      • Testimonials
      • FAQ
      Apply Here
      broken image

      Keynesian Economics vs. Austrian Economics

      Excerpt from John Maynard Keynes, "The Economic Consequences of the Peace" (1919)

      Watch these two videos and then read the text excerpt:

       

      The war has disclosed the possibility of consumption to all and the vanity of limitation to many. 

      Nations are real things, of whom you love one and feel for the rest indifference- or hatred. The glory of the nation you love is a desirable end, but generally to be obtained at your neighbor's expense. The politics of power are inevitable. 

      Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation (click here to learn more about inflation), governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. 

      Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of a society, than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose it.

       

      Previous
      The Grapes of Wrath
      Next
      Mao's Little Red Book on Capitalism, Socialism and World...
       Return to site
      Cookie Use
      We use cookies to improve browsing experience, security, and data collection. By accepting, you agree to the use of cookies for advertising and analytics. You can change your cookie settings at any time. Learn More
      Accept all
      Settings
      Decline All
      Cookie Settings
      Necessary Cookies
      These cookies enable core functionality such as security, network management, and accessibility. These cookies can’t be switched off.
      Analytics Cookies
      These cookies help us better understand how visitors interact with our website and help us discover errors.
      Preferences Cookies
      These cookies allow the website to remember choices you've made to provide enhanced functionality and personalization.
      Save