Mount Olive economist Paul Cwik explains the problems associated with Keynes’ ‘long run’

Famous British economist John Maynard Keynes once quipped: “In the long run, we are all dead.” Dr. Paul Cwik, associate professor of economics at Mount Olive College, contends we are now living in Keynes’ “long run.” He outlines the harmful impact of Keynes’ short-term, consumption-based approach to economic policy. Cwik offered these comments during a March 21, 2011, speech to the John Locke Foundation’s Shaftesbury Society. To watch full-length presentations of John Locke Foundation events, click here.