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Why Does Progressive, Keynesian Economics Work and Conservative, Classical Economics Doesn't Work?

Of course I know that is a loaded question, but the evidence is quite broad and convincing. Classical economics was the only game in town from 1787 to 1933, Keynesian economics became the rage from 1933 to 2001 after which it moved to back to Classical. Now here is the kicker: - in the period from 1787 to 1933, 41% of the time was spent either going into or coming out of downturn as large or larger than the Great Recession of 2008 for downturns caused for the same reasons; bursting bubbles. - From 1940 to 2000, there has been zero time doing the same thing. What does that tell you?


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LandmarkWealth says

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3 years ago
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    My Esoteric 3 years ago

    Thanks Landmark, I will take a look at it. The data, unfortunately is a bit overwhelming. I culled out the small ones. Out of the 37 NBER classified recessions between 1785 and 1937, I only used 15 of them to get my results; 1920 didn't count.

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