Baptized Inflation (PB)

Paperback, 274 pages

Subtitle: A Critique of "Christian" Keynesianism

About the Title: For about three decades, from the mid-1930's until the mid-1960's, the economic ideas of one man ruled the Western world: John Maynard Keynes. Even today, his aging disciples have only recently begun to retire from university teaching in sufficient numbers, so as to allow a serious debate in economics to reappear after half a century in the better universities. In the second-rate and third-rate colleges, Keynes' ideas are still dominant.

Who was John Maynard Keynes? He was the son of British economist John Neville Keynes. He was a brilliant essayist with a wide-ranging mind. He made his reputation with a book on the theory of probability, not economics. He was also a man who never went through the boredom or the discipline of a graduate program in economics. He earned a bachelor's degree and quit. Smart man. He was hired to lecture in economics program. He wrote his way into prominence.

He was also a homosexual pervert who led a secret society heavily represented by other homosexual perverts.

His ideas laid the foundation of the "mixed economy" — part free market, part government planning, and completely inflationary. As he grew older, his books became increasingly incoherent and steadily more popular, for each book increasingly promoted national economic planning. The politicians loved him: he was giving academic reasons for budget deficits, price controls, and monetary inflation. The younger economists loved him, for his ideas were creating lifetime employment opportunities for them as government economic planners.

It was Keynes, more than any man in the twentieth century, who is intellectually responsible for today's looming bank crisis, the huge government deficits, and the eventual default of governments on their financial obligations. He gave the Western economy a large does of intellectual AIDS.

And Douglas Vickers is his self-appointed prophet.

Who is Douglas Vickers? He is an obscure economics professor who wrote two books defending Keynesian economics in the name of the Bible. These books never sold well, but they became briefly popular in the economics departments of several equally obscure Christian colleges. He seemed to be making a biblical case for the modern liberal's dream of a bureaucracy-operated world, meaning the world of college professors.

The faculties of these little colleges are filled with political liberals. They see their task on earth as stealing the minds of the children of the conservative donors and tuition-payers who naively sent their children to such institutions "to get a Christian education." Douglas Vicker's books seemed useful to them in this task for a while.

Baptized Inflation is a refutation of the writings of Douglas Vickers. But it is more than this. It is a Bible-based critique of the monstrous lies of Keynesian economics, and written in clear language, unlike the books of Keynes and Vickers. It also sets forth the biblical case for the free market economy.

Baptized Inflation refutes the life's work of a Christian man who sold his spiritual birthright for a mess of academic pottage. It serves as a warning to others who would do the same. It says: better truth than academic respectability; better the Bible than the economics of perversion.

Copyright, 1986