The fiscal philosophies of John Maynard Keynes* seem to be making a comeback during this global financial crisis; it’s one of the reasons why Gordon Brown wants to increase borrowing in an attempt to boost the flagging economy. Rather than “no more boom and bust” as he has said on many occasions, it now appears that we should “Boom in Bust”. We’ll see whether this hair-brained scheme works in time, but I’m not a big fan of borrowing in order to get you out of the hole that borrowing got you into in the first place. Crazy!
However, I digress from the point of this post; I wanted to share a quote from John Maynard Keynes himself which sums up the financial turmoil we’re in and which we’ll see again if we’re not careful.
Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.
Brilliant. And yes/no that was/wasn’t sarcasm.
*Read more about John Maynard Keynes in his entry over at Wikipedia.