May 16, 2011
The Keynesians have hijacked America – leaving the field open for nations that follow good policy
The results from this recent study of attitudes of American economists confirm that (on average) American economists are unrepresentative of the political preferences of the Americans. It also confirms that American economists are responsible for America's rapidly declining economic prospects.
In the following summary I'm using raw data without qualifications – for the qualifications please see the detailed study.
a) 67% of America's economists vote Democrat compared to less than half the Americans.
b) Less than 25% (24.6%) of America's economists voted Republican.
(I've used the following table, and removed those who did not indicate a clear voting history)
Second, Keynes and the Keynesians are overwhelmingly the favourite economists of America. That explains everything at a glance.
The Keynesians have brought America to this pass, and they will no doubt ENSURE its forthcoming decline.
This great diversion of America from the philosophical foundations of its founders has created a great opportunity for countries like India – who can follow classical liberal policies and sweep rapidly above America.
A very useful blog post: