BLAME CAPITALISM WHEN GOVERNMENT SPENDING FAILS
WRITTEN BY CHRISS W. STREET
The Left’s premier economists, such as Paul Krugman, John Cochrane, Robert Stiglitz andGary Becker blamed the “Great Recession” on the failures of capitalism and championed massive “government investment” as the right medicine to revive U.S. growth. But after $6.2 trillion of deficit-spending and the economy suffering theworst recovery in US history, these academic geniuses are desperate to shift the narrative by arguing growth has permanently slowed following the expiration of capitalism’s latest industrial revolution. Trying to blame capitalism borders on intellectual malpractice, I always applaud the Left when they admit deficit-spending doesn’t work. Continue reading