By Arnold Kling Saturday, November 7, 2009

Filed under: Economic Policy, Boardroom, Numbers

We are currently hearing a lot about Keynesian economics. A number of economists and pundits suggest that his theories, developed in the 1930s, provide us with the best guide to economic policy today.

This back-to-Keynes movement ignores the dramatic restructuring of our economy over the past 50 years.

Consider three changes.

1. The decline in manufacturing production workers as a percent of...