The argument between free and planned economies is not new …
The trouble is that Keynes was a libertarian when compared to any the socialists, from Mao to Mussolini. Hippies want to eliminate differences in wealth. Keynes just sought a solution to the boom-bust cycle.
Two quotes by Hayek that I find to be spot on given today’s political fads…
“A claim for equality of material position can be met only by a government with totalitarian powers.”
“‘Emergencies’ have always been the pretext on which the safeguards of individual liberty have been eroded.”
Friedrich August von Hayek
Never waste a good crises either. Remember Obama’s little quip when talking to some bald plumber dude?
Spread the wealth around!! Obama is gonna make us all equal, miserably so.