Bruce Bartlett on Keynesian economics

“Although we cannot place all the blame for the dismal condition of LDCs on Keynesian economics, it bears a heavy responsibility for much of the pain and suffering in the Third World.”

“After careful research along these lines, I came to the annoying conclusion that Keynes had been 100 percent right in the 1930s. Previously, I had thought the opposite. But facts were facts and there was no denying my conclusion. It didn’t affect the argument in my book, which was only about the rise and fall of ideas. The fact that Keynesian ideas were correct as well as popular simply made my thesis stronger.”