I came across this very interesting blog post comparing current conditions to a historical cautionary tale about creating excess government debt.
This tale is "The Economic Consequences Of Peace" by John Maynard Keynes. This book is a must read for people who like economics and history. Do you want to see how strapping Germany with obscenely high debt as punishment actually forced them to become militaristic and led to the rise of the Nazi Party? All I can say is it is a compelling story of unintended consequences.
Just FYI - Keynes is otherwise known as the godfather of government spending used to bolster economic growth in time of economic decline - otherwise known as Keynesian Economics, so even if you don't agree with him, you can learn something new!
Wednesday, June 10, 2009
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