That seems to be the story, based on what Veronique de Rugy has written at National Review Online. Calling for tax increases in an economic downturn doesn’t make any sense, even under Keynesian theories. So why do so many Keynesians seem to be supporting the idea of allowing tax increases for those earning more than $250,000 a year?
Reason Magazine expanded on this question on their blog. They argue that this trend reveals more about neo-Keynesians like Paul Krugman than it does about the actual accomplishments or shortcomings of John Maynard Keynes. (more…)