So there I was, reading Advanced Macro, and out of no where came ma boi N. G. Mankiw. (for these who don't know who he is, google his ass). Little did I know that he was the leading figure in New Keynesian economics. Not familiar with "New" Keynesian economics, mind you, there is Keynesian and Neo-Keynesian, I wikied it up, and it turned out that New Keynesian is a counter to New Classical. After more wiki-ing, I got an external link to this: http://www.globalpolitician.com/articleshow.asp?ID=700&cid=1&sid=45 and man oh man, how this pissed me off. See, there is a reason why a lot of politicians need to be shot today, and the above article is a clear case why. let's keep some stuff in mind here: There was a supply shock in the 70s Gold Standard prevents growth Philips Curve and Taylor rule deals with CONSTANT factors of production Laffer Curve NEVER HAPPENS IN NATIONAL ECONOMICS Reagan doesn't have an education P.S since I'm at it, let me just say that Mankiw quit as the chairman of the CEA because Bush might be little misinformed, but other ways a nice dude . And most republicans (and democrats) have no *******clue how the economy works.