After hundreds of thousands of conservatives gathered for a rally in Washington, DC in August 2010, there was a ‘counter rally’ for liberals a few days later. A reporter was on scene holding up his own sign “OBAMA = KEYNESIAN?” so that attending libs would approach him. No doubt he was hoping for some good video clips. This one is absolutely classic, with excerpts highlighting these low information voters. It’s under two minutes and worth watching. (Look for the Hitler costumes and animal masks – hilarious.)
Although the IQs exhibited in the video are either naturally low or impaired by pharmaceuticals, we need to be fair on one point. A lot of fiscal conservatives didn’t know what a Keynesian is, or still may not know. Some of us “woke up” in the second Bush administration instinctually knowing that something was wrong, and a lot of us have been doing our best to educate ourselves about the history and the issues that were omitted in the progressive educations of our youth.
So what is a Keynesian anyway? I know that none of you thought the term referred to someone who was born in Kenya, but still might know what one is. John Maynard Keynes was a British economist of some note and founded a school of economic thought called Keynesian economics. Those who believe in his economic principles are known as “Keynesians”. Keynes’ book “The Means to Prosperity” was published in 1933 during the Great Depression, and mentioned the multiplier effect of government spending. The general idea is that the government will spend money on projects, workers will get wages they spend, causing wages to more workers.