Tyranny, Inc.: How “Beltway Libertarians” Failed to Convince Conservatives

2024-09-27

The phrase “old school economics” is often used positively or approvingly by many, but is rarely explained. What is this school and where is it located? You can be sure that it is not what is taught in most college classrooms today. It’s definitely not Keynesian or Marxist economics. But what is it?I often hear the phrase “old school economics” in response to, for example, a government bureaucrat who says we need to increase unemployment to fight inflation, or when some mainstream financial commentator says, “bad news is good news” where the bad news is for workers and taxpayers but is good news for Wall Street or government. Politicians and left-wing economists will often say “a weak dollar is good for the economy” or that “we” need to borrow and spend our way out of the economic mess