Would you rather be marooned on a desert island with an Austrian or a Keynesian?

(Thanks to Nielsio.)

And check out the rest of Tim Kelly’s awesome (and very libertarian) cartoons.

Comments

    • The point is that truly correct theory of economics should be able to explain from Crusoe type enviroment to a super globalized enviroment.

      Afterall the fundamentals and logic of economics should remain solid instead of bending them at the will of any equation or graphic. Crusoe scenario is great to expose the soundness of a theory in its most basic components, if keynesianism fails at such scope, they failure only get amplified at a greater one.

      • “The point is that truly correct theory of economics should be able to explain from Crusoe type enviroment to a super globalized enviroment. ”

        That is merely an assertion. A modern capitalistic economy, which Keynesianism is founded on, is not a crusoe situation. This is coming from an Austrian, I just hate these silly little critiques of Keynesianism, when there are actually much better, more valid and sound, critiques that could be made.

        • Why not? The world can be as a small island in the universe. Scarcity remains, opportunity cost remains, true wealth is created the same, via capital accumulation. The difference is that there so much stuff and accumulated capital that keynesians appeals to agregates and blobs that forget the real details of what make a thriving economy.

          Thinking about it, I see that the Crusoe analogy is not only good to showcase the weakness of keynesianism, but the whole issue of Macro economics, that forgets that the individual is the fundamental actor in an economy.

          Good economics is always rooted in Micro economics IMO.

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