It’s easy to say that socialism has failed. You only have to look around or know a bit of history. But there is something else that failed big time and nobody is talking about, an elephant in the room nobody sees. Remember 2008 Nobel Prize laureate and expert-of-experts Paul Krugman announcing in November 9, 2016, just two days after the election, the economic debacle the Trump presidency would bring?
“So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow. But on economics, as on everything else, a terrible thing has just happened.”
Krugman is not just another “expert” going wrong and still keeping his title, he is the personification of an important idea. I’m thinking about the mother idea of liberal economics, Keynesianism, the concept of government monetary and fiscal programs designed to increase employment and stimulate business activity by spending (freely spending other people’s money, that is). One of many consequences of the second wave, it is now accepted by most economists as part of modern liberalism. John Maynard Keynes was a member of the Bloomsbury Group, who together with Bertrand Russell and Sydney and Beatrice Webb of the Fabian Society were key players in the mainstreaming of socialism, in making socialism scientifically respectable in modern times.
Remember Barack Obama’s $787 billion “stimulus package” thrown down the drain? Or his no less infamous Solyndra scheme?
President Trump proved it was all wrong, wrong, wrong. They can’t forgive him for that either.