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Wednesday, November 3, 2010

Keynesian ... or Kenyan


From Huffington Post (click here for article) we can never be sure what goes on in the minds of the lunatic fringe. President Obama was born in Hawaii, his father was born in Kenya. There are still some people that believe that the President was born in Kenya which would make him ineligible to be president. However, the current policies of this administration are definitely Keynesian.

Keynesian fiscal policy dictates deficit spending during a recession in an attempt to stimulate aggregate demand. The neo-classical school suggests several reasons why such a policy is likely to be ineffective. Perhaps that is why the democrats just lost control of Congress. That is the economics part.

Kenyans are known throughout the running world as some of the best long distance runners. So much so that you will often see signs stating "You're all Kenyans" while running a marathon. The currrent men's olympic gold medal marathon champion is Sammy Wanjiru of Kenya, the Commonwealth Games gold medalists are John Ekiru Kelai and Irene Kosgei both from Kenya. This year's Athens Marathon, commemorating the 2500th anniversary of Phidippides' inaugural run, saw Raymond Bett and Edwin Kimutai finish first and second ... and yes, they are both from Kenya.

All things considered, I'd rather be Kenyan, than Keynesian.

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