Originally Posted by HoustonScott
I trust the founders. Less government and more freedom. Less Karl Marx, more James Madison.
I'm assuming you meant Adam Smith. James Madison was an ultra-liberal in his time.
And "trusting" in any doctrine is stupid. Learn the differences.
It's clear (to me) that economies that operate mostly by the classic model will throw the system into chaos as every cycle of boom and bust further enriches the wealthy class. The wealthy class is the least affected by recessions, and take the most advantage of economic boom.
Keynesian economies, while less impressive in their peak, dramatically lower the amplitude of the boom/bust cycle, therefore increasing the quality of life for the majority of its participants (read lower and middle classes).
Look up the Laffer curve (that's Reaganomics, since Reagan didn't know jack shit about economics. He "trusted" his ideas). Republicans are _always_ working under the assumption that we are past the equilibrium point of taxation revenue. I believe that was the case when Reagan came to power. It has not been so for a long time, which was evidenced by the collapsing economy after Bush turned the dial further into tax cuts.