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« We Hold These Truths to Be Self-Evident . . . | Main | This Week's White Horse Inn »

An End to Keynesian Economics?

If anything good can come out of this current economic mess, perhaps it will be the death of "Keynesianism."  Why all the lefty love for an economic philosophy which has never once delivered the "multiplier effect" it promises?  As my college econ professor used to say, "if you think federal deficit spending will do anything over the long haul but `multiply' the national debt, then you'll love France."  Glad to see the WSJ clobber this again.   The Keynesian Dead End  

Minnesota's junior Senator Stuart Smalley (AKA Al Franken) spent his time during the Judiciary Committee Hearings doodling and napping.  I'll grant that these hearings are boring, but I guess Franken didn't much care that Kagan believes the government can regulate what we eat.  Franken Doodling

Stressing on the job?  Don't get along with the boss, or a co-worker?  What your company needs is an office chaplain!  Finally, meaningful work for all those graduates of the mainline Protestant seminaries who no longer have churches to serve (see below).  Need an Office Chaplain? 

Surprise, surprise.  The numbers are in.  The PCUSA has officially halved itself.  I guess people are tired of sermons on why LeBron James should give up his salary, and why the Gulf Oil spill is proof that you need to drive a Prius.  PCUSA Decline

Reader Comments (12)

Pastor Kim - I really enjoy your current news post's, great stuff!

June 30, 2010 | Unregistered CommenterLloyd I. Cadle
Pastor, the question mark in your post title is an important tittle. I’d love to believe that Obama has closed our “bar tap.” Instead he will continue his socialist drinking binge until the mid-term elections -- come hell or high water. Greece and Spain can burn from the flames of Keynesian economics in front of the very eyes of this administration to no avail; entrenched academic ideology in the mind is akin to a serious drug habit…difficult to undo.

To boot, I am not sure that the voters understand the extent of this mess, deficits, social security, Medi-Care, regulations, taxes and fiat money. Someone has to pay for this. The baby-boomers (you and I) surely do not want the responsibility. And our kids will not be able to bear the burden.

Thank God for our Lord and Savior Jesus Christ, in Him we have an infinitely greater hope. Nonetheless He is in the midst of all this now; He will make a way for his people.
June 30, 2010 | Unregistered CommenterOscar
>The PCUSA has officially halved itself.

"It has lost members every year since 1965, and this year's results put it below 50 percent of that year's total of 4.25 million."

Yup. I remember talk and handwringing about membership loss back in the 1960s, when I was a kid. I don't think there has been a year since that they haven't declined.

My Dad's church (he's been a member continuously since sometime in the 1940s) is actually growing, and looking to build again, but the denomination is going to wither to a lefty pagan core.

If you've been in that environment, you can practically <i>smell</i> theological liberalism.
June 30, 2010 | Unregistered Commenter"lee n. field"
Unfortunately, most voters have no clue what keynsianism is - or what our current economic situation has to do with it. Most voters only see government influence over the economy as a way for the have-nots to get some of what the haves have. I wish that the common voter would see the connection but I don't hold out much hope.
June 30, 2010 | Unregistered Commenterbil
The PCUSA declines by half from 1965 to 2010. Does this mean the half-life of liberal presbyterianism is 45 years? If so, it means that by 2055 there will only be about 1 million of them.

This scenario is more optimistic than some of them believe. I heard one of their pastors say, last summer, that if they keep it up they will completely disappear by 2045.
July 1, 2010 | Unregistered CommenterDB
“Finally, meaningful work for all those graduates of the mainline Protestant seminaries who no longer have churches to serve...”. Reading about the ecunemical function of these company chaplains, your sarcasm is painful. :)
July 1, 2010 | Unregistered CommenterOscar
Thanks for the WSJ link. It would be nice to believe it was true, but I fear a revival of Keynesianism is just an economic rebound and a political pendulum swing away.
July 2, 2010 | Unregistered CommenterJohn D. Chitty
Dr. Riddlebarger,

Since you recognize the inherent bankruptcy of Keynesianism, what alternative might you propose? What was the economic mode of this nation in the first 100 years? Have you considered "Small Is Beautiful," by E. F. Schumacher? He applies the Second Greatest Commandment to economics in his book. By the way, he worked briefly with Keynes, then repudiated his philosophy and went his own way. Also wrote, "Good Work." Food for thought.
July 2, 2010 | Unregistered CommenterJenny
The answer is simple, as has been proven many times: TAX CUTs. The Federal Government ends up collecting far more revenue than they otherwise would. However, the Saul Alinsky-trained Radical Leftists in the White House, intent on destroying our system and selliing us all down the river, have no intention of doing the right things. During the Presidential campaign, I distinctly heard B.O. say: "I'm going to rebuild the economy from the ground up" (as if the economy needed rebuilding!). Only a Control-Freak would say something like that. Considering how dumbed-down, wicked and peverse we have become as a Nation, it's only by the Grace and Mercy of God that we continue to exist.
July 2, 2010 | Unregistered CommenterWill
Do they really "preach" this garbage from pulpits in those mainline churches? I know they are theologically liberal, but are they consciously self-destructive?
July 3, 2010 | Unregistered CommenterAlberto
The PCUSA is going through unbelievable times. Right now the denomination is divided on whether or not to ordain gays. I have a good friend who was in charge of the pulpit committee selecting a new pastor for a prominent PCUSA Church. Every time they interviewed a promising candidate they asked him to promise, without reservation, that he would oppose ordination of gays. It took quite a few candidates but they finally found someone who promised. Let's see how long that lasts!
July 22, 2010 | Unregistered CommenterWill

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