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Scientism: The New Road To Serfdom, Part 2

Summary:
Approximately 50 years ago Richard Nixon said something to the effect that “we are all Keynesians now”. Alas, well he should have. The now sainted (and recently departed) former industrial labor economist, George Shultz, had just gotten him to discard decades of GOP balanced budget orthodoxy in favor of “full-employment budgeting”. The latter established the […]

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Approximately 50 years ago Richard Nixon said something to the effect that “we are all Keynesians now”. Alas, well he should have. The now sainted (and recently departed) former industrial labor economist, George Shultz, had just gotten him to discard decades of GOP balanced budget orthodoxy in favor of “full-employment budgeting”. The latter established the […]
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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