Gfc

A response to this rather infuriating article: Paul Sheehan has a rather glaring contradiction in his article on Monday, accusing “Comrade Rudd” of being a great illusionist. To claim on the one hand that the Prime Minister falsely represented himself as an economic conservative, but argue on the other hand that following Keynes’ General Theory is not economic conservatism appears somewhat contradictory. Keynes’ ideas of macroeconomics had been largely displaced by Milton Friedman and the Chicago School of Business’ laissez-faire monetary approach since the 70s, so it seems that a return to older ideas would indeed conform to the ideas of conservatism in the field of economics. Applying the approach used to solve the Great Depression of the 1930s seems like the very model of conservatism. ...