Washington Could Use Less Keynes and More Hayek

Dick Armey, the former majority leader of the House of Representatives, provided a scathing critique of Keynesian economics in an editorial published in the Wall Street Journal on February 4, 2009.  In "Washington Could Use Less Keynes and More Hayek," Armey cites the two Nobel Prize winning economists who would oppose the current efforts to reverse the economic downturn and ignores all the other Nobel laureates who are firm advocates of Keynesianism.