“Military Keynesianism” & Faith-Based Economics Lead to Excessive Government Spending

Both major political parties in the USA advocate some sort of “military Keynesianism” that is linked to “faith-based” economic theory. In the end, a belief in mythological spending multipliers is used to denounce cuts in defense spending or to justify increases.

Similarly, officials of local government officials insist that preferred public works projects, e.g., expensive sports stadiums for professional teams, add super-charged boost to local economies.

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