The Black Horse and Rider of the Apocalypse: How Keynes destroyed Economics

Description

In the 6th chapter of the last book of the Bible, “The Book of Revelation”, 4 horses and their riders are depicted, ushering in the end of the present age here on earth. The 3rd horse and rider are described as a Black Horse with its rider holding a set of Scales. This book proposes, firstly, that the Black Horse and Rider signifies the collapse of World Commerce and, secondly that this process was set in motion with the publication of the book, “The General Theory of Employment, Interest and Money”, by John Maynard Keynes in 1936. The 1936 book was subtitled, “The Keynesian Revolution” and it certainly was. However, the present author proposes a more appropriate subtitle would be “The Keynesian Religion” or “The Cult of John Maynard Keynes”. Keynes’ book destroyed the discipline of Economics, by claiming that following “Classical Economic Theory” caused the “Great Depression” and the only solution was to follow Keynes’ theory. Keynes’ theory as expounded in his book, consisted of proposals and recommendation, some hundreds of years old and previously discarded, that were to be followed by faith because Keynes did not substantiate any of his claims. Like all religious prophets, Keynes expected to be obediently followed by faith alone. This new religion appealed to governments, politicians, policy makers and elites, so that the state could pursue a profligate economic policy. The present dire conditions of the world’s financial state can be directly attributed to adherence to Keynes’ theory throughout the last century. The author’s conclusion is that Keynes was a charlatan.