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The one thing most people think they know about economics is wrong

Keynesian deficit spending makes sense – but over and over again it has not worked

16 January 2016

9:00 AM

16 January 2016

9:00 AM

Some things are universally accepted as true. Water finds its own level; crumpets are best eaten in winter; and the England football team will not win the World Cup again, ever.

On a par with these things, the most accepted part of economics is Keynesianism. Of course, John Maynard Keynes said lots of things about economics in between his many and varied sexual encounters.

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