Three Way News
Your Source. For everything. Really.
Contributors
- Hammer
- Jambo
- Libby Mae
Current Poll
Recurring features
Hammer's Favorites
- Dobson v. Sponge-Bob
- Calvin, the nest egg
- Pat's predictions
- Bachmann spins Cupertino
- 205 atheists assume the bench
- Fox spins Oil for Food
- Fact check: highest taxed state
- Gen. Myers v. Reality
- Janice Rogers Brown
- Killing Field
- Kline hates Big Bird
- Vote Luca Brasi!
- Cornyn's Stalinist Supreme Court
- Rumsfeld's hidden metrics
Jambo's Favories
- Dolphin research updates
- We all shine on
- If you have to write...
- Columnist NY Times should have
- Truth about taxes
- Fourth of July
- Movie objects
- Lost in supermarket
- Dysfunctional Farmer Labor party
- Punks you hated
- Some preacher from east
- Winning issues
Wednesday, June 01, 2005
Ten Most Harmful Napkins of the 19th and 20th Centuries
Human Events Online has a silly list of the "most harmful books" of the last 10 years or so. As we wander from Mein Kampf (#2, score of 41) to Unsafe at Any Speed (Honorable mention, score of 11) we should pause at #10: General Theory of Employment, Interest and Money. HEO summarizes Keynes's argument thusly:Funny that Keynes is to blame for the debt that arose primarily from supply-side economics. The federal deficit was at $930 billion just after Reagan was elected. The deficit was $2.6 trillion by September, 1988. Four more years of Bush brought the deficit to $4 trillion. The deficit was at $5.67 trillion after 8 years under Clinton. As of April 30, 2005, the total deficit is $7.76 trillion.
In the last 25 years, the federal deficit has increased by $6.8 trillion (734%). 75% of the increase in debt is not from Keynesian economics, but from the Laffer curve.
Were I to start a list of the 10 most harmful napkins of the last hundred years, the napkin with Laffer's curve would surely top the list. Second would probably involve a scene from Billy Madison. After that, I'm open to suggestions.
