Keynesianism: The Modern Day Religion of Economism

As well as being an Irish Austrian, Professor Gerard Casey is a member of the School of Philosophy in University College, Dublin. This year he spoke at the Austrian Scholars Conference 2010 in a fascinating talk in which he compared ancient religion with more modern manifestations, such as ‘Economism’ and ‘Environmentalism’.

I thought some Cobden Centre readers might be interested in his ideas:

If Professor Casey’s thoughts are accurate, this could explain why the Keynesians are so intolerant of truth, despite being so wrong about everything and despite causing so many problems with their broken inflationist tools and money printing methodologies.

I have also extended the list that the Professor speaks about during his lecture. Here is my attempt at a full expansion of his central tenets of ‘Economism’:

  • God = Government
  • Sin = Scarcity
  • Punishment = Inflation and Recession
  • Salvation = Economic Progress
  • Original Sin = Poverty
  • Eden = Princeton University
  • Heaven = The Marriner S. Eccles Federal Reserve Board Building
  • Churches and Cathedrals = Banks
  • Bible = Samuelson’s Economics notes on Keynes
  • Pope = Paul Krugman
  • Priesthood = Keynesian Economists
  • Biblical Latin = Gobbledegook Mathematics