More Ignorance (RE: PK)

[egglesto@xxxxxxxxxxxxxx (Brian Eggleston)]

Another display of ignorance about PK ideas from my files.  This one
comes from _The Enterpri$er__ for Nov. 1990 (a publication of the
University of Tenn.-Chattanooga Center for Economic Ed.)

"Much of Keynesian economics has been discredited.  It failed to explain
'stagflation' and it largely ignored the incentive effects of taxation, i.e.
the idea that high marginal tax rates deter work, saving and investment
behavior.  Keynesian economics has been so discredited, in fact, that
many former Keynesians now call themselves 'Post-Keynesians,' implying that
they have learned fom their past mistakes."

Economic education?????

Brian Eggleston
Department of Economics
Augustana College
egglesto@xxxxxxxxxxxxxx