A New Economic Theory

David Callaway, editor-in-chief of CBSMarketwatch.com, puts it well:

Move over Keynes. The era of girlie-men economic theory has begun.

Not since the 1936 publication of “The General Theory of Employment, Interest and Money” split the academic world and changed the way governments look at their economies has such a weighty treatise been posited.

Yet California Gov. Arnold Schwarzenegger made it sound so simple in his speech at the Republican National Convention: there are no economic problems, only economic girlie-men.