The Clinton Years Rebuke Keynesianism

by Pejman Yousefzadeh on June 24, 2011

Behold. To be sure, an Internet bubble and a peace dividend helped as well, but shrinking the percentage of GDP devoted to government expenditures by nearly four points should have brought about contraction in the economy–especially given the length of the unemployment problem after the recession that knocked George Herbert Walker Bush out of office. And yet, it didn’t.

Something to remember the next time you are accosted by Keynesians who tell you that they have a monopoly on economic wisdom.

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