Keynesianism is Wrong, or, The Miraculous Exogenous ‘G’
Here is Cato’s Dan Mitchell explaining the problems with Keynesian solutions to recessions.
Hat-tip to Krazy Kaju for his summary:
The idea that government fiscal stimulus can increase actual aggregate demand is false. That money needs to either be borrowed, taxed, or printed. If it’s borrowed, that’s less money that the private economy may borrow. If it is taxed, that is less money that the private economy has. If it is printed, that is less value per dollar that the private economy has.