Crackpot movements that eventually fail, but not before causing serious damage
Karl Marx was a crackpot. So was the John Birch Society in its mission to fight communism “behind every tree.”
The latest is Modern Monetary Theory and unlimited dollar creation for government spending, which caused today’s runaway inflation.
In the 1970s, the Club of Rome insisted that for the world to be ecologically sound, we needed a “no-growth economy.” This was as dumb as the debunked Malthus theory that population growth would outstrip food.
The disgraced Club of Rome thankfully went dormant. But it’s baaaack. The new craze is “de-growth.”
Andy Kessler WSJ 30 October 2022
Kommentarer