My late friend, Nobel laureate (economics), F.A. Hayek told me years ago when I visited him in Germany that decades before he had a discussion with the renowned economist John Maynard Keynes, where Keynes told him that he (Keynes) had made a terrible mistake and was prepared to write an important piece to disavow deficit spending and hence paper money creation. But two weeks later Keynes died. World governments have all embraced Keynes’ mixed up theories because it gave them a convenient solution to cover up their economic mismanagement. Because of this, huge debts and huge piles of paper money have been fostered on populations creating what is now an economic tidal wave that is now on the horizon.
How would that have changed the world, I wonder? Keynes is almost single-handedly responsible for handing governments the world over an excuse to economically rape their citizenry. What a treasure a recanting essay would be!