Are We Repeating the Mistakes of the 70s?

We wouldn't be bailing out failing companies anymore.
We wouldn't foist taxes on employment.

Or set minimum wages in times of rising unemployment.

Or raise taxes in a failing economy.

Or build up dificits and offload the debt on our children.

Why then are doing Keynesian economics?

Be afraid, be very afraid ... because it's not as if we don't know any better!

Professor Peter Klein, University of Michigan, talks about the return of an ugly monster that refuses to die.  Hat Tip: Liberty Pen.