[lbo-talk] Steve Forbes lashes out against Keynesian economics: "the whole idea of macroeconomics is a fraud" - Forbes.com

Myles Sussman myles.sussman at gmail.com
Thu Jan 6 08:38:04 PST 2011


On Wed, Jan 5, 2011 at 3:45 PM, fernando cassia <fcassia at gmail.com> wrote:


> Copernican Revolution Coming to Economics - Forbes.com
>
> http://www.forbes.com/forbes/2011/0117/opinions-steve-forbes-fact-comment-copernican-economics.html?partner=mostcommented
>
>
> Because we had faith in the notion that the actions of the 300 million-plus
> people in this country--or any country--can be tidily summed up in a single
> number, we accepted an inflated estimate of the communist economies'
> strength during the Cold War.
>

So this means that during the actual Cold War Steve Forbes was out in front in protesting massive arms spending buildup as not necessary? My guess is back then he was out in the lead trumpeting the evil empire's strength as a reason for the "military Keynesianism" of the day... in the late 1990s he was actively promoting big increases in US military spending (this was before the "global war on terror") [“A New Birth of Freedom,” p. 159-60]

Speaking of defense spending, Forbes is also on the board of directors of pro-war organizations like the Project for a New American Century. Their pet "project," the invasion of Iraq, is gonna end up costing a* lot *more than any "socialist" programs Obama has or ever will propose.



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