If you studied macroeconomics in a school or university in a Western democratic country, it is likely that you would’ve been taught Keynesian economics, named after British economist John Meynard Keynes. In fact this may be the only type of economic model you have ever been exposed to if all you read is the corporate press.
The purpose of this video is to illustrate why the Keynesian model of economics, which societies now rely on to run their economics, is the root cause of a lot of the problems being experienced around the world, such as high government debt leading to inflation, low wages and reduced productivity, which decreases welfare for everyone.
In this video, I’ll explain what the Keynesian theory of economics is, what problems it has led to in economies and why it should be rejected in favour of an alternative model.
Link to article on Austrian Economics mentioned in the video is here: [ Ссылка ]
