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It has nothing to do with trying. But I did enjoy debating with you kind sir.
Which, clearly, you're not very good at. The first requirement for a debater is to be able to recognize even subtle differences, much less obvious ones as you yourself quoted but didn't catch.
Can you show me, in your quote, where the government is supposed to be filling the consumer demand? From what I see, the idea is for government to do what the private enterprise is lacking. In other words, government not replacing consumers, but replacing privateers who back off from investing during recessions. But hey, I don't expect you to get even this clarification either. Don't disappoint me.
"Keynesian" huh? As in the school of thought founded by John Maynard Keynes that postulates the idea that somtimes givernment intervention is needed so as to keep the country's economy working well?
Well, of the top of my head I'd reckon tha the last time it was used was in the 1930's, by FDR, when he created all those "alphabet soup" government organizations like WPA and the like, which put people back to work.
Too, IMHO Obama shoulda done something like this instead of giving away all that bailout money to banks and corporations and financial institutions, some of whom were the very ones responsible for plunging us into this current recession in the first place.
And I'm pretty sure a federal work program like some of FDR's wouldn't have cost anywhere near the one trillion dollars Barack hussein doled out.
I disagree, but I do appreciate your contribution to the debate.
Quote:
Can you show me, in your quote, where the government is supposed to be filling the consumer demand? From what I see, the idea is for government to do what the private enterprise is lacking.
Exactly my point. My requirement for Keynesians to illustrate credibility is a mathematical proof that infers success from such policy.
I disagree, but I do appreciate your contribution to the debate.
I didn't expect you to agree. I expected you to not disappoint me, and you didn't. Leave the debate to those who can.
Quote:
Originally Posted by BentBow
For it to kinda work, you would need price fixing, and allow monopolies to be bigger and bigger, with Government controlling the monopolies and micro managing every aspect of each individual life in the USA, from cradle to grave. Kinda like a Fascist/Socialist society.
Actually, no. Unless your idea was to be a troll. Let us look at this quote by your friend, on Keynesian economics:
"Government policies could be used to increase aggregate demand, thus increasing economic activity and reducing unemployment and deflation."
Do you think this applies to steps taken in early 1980s? Early 2000s? Late 2000s?
Sorry, I can't keep a straight whenever I say that.
You should laugh, because your comment are absurd, based upon your ideology not facts. Besides, this thread is about Keynes and Keynes didn't write the General Theory until 1936. Anyway...
From 1929 to 1933, GNP dropped in half; and unemployment went from 5% to 25%.
Then FDR instituted the New Deal.
From 1933 to 1937, GNP rose and unemployment rose dramatically.
In 1937, the Republicans convinced FDR to pull back on the New Deal. He did and the nation went into a recession.
In 1938, FDR re-instituted the New Deal and the recession ended.
FDR detractors argue that the economy didn't regain 1929 economic levels until World War II. What these people fail to acknowledge is that the high spending levels during WWII were Keynesian economics and there was a period of more than two years when the United States was gearing up for war but not yet engaged in combat and those numbers are evident on the chart.
Had the New Deal had been as large as WWII spending, recovery would have been even faster. But to argue that the New Deal did nothing can only be argued by a dishonest partisan, willfully ignoring clear facts.
You should laugh, because your comment are absurd, based upon your ideology not facts. Besides, this thread is about Keynes and Keynes didn't write the General Theory until 1936. Anyway...
From 1929 to 1933, GNP dropped in half; and unemployment went from 5% to 25%.
Then FDR instituted the New Deal.
From 1933 to 1937, GNP rose and unemployment rose dramatically.
In 1937, the Republicans convinced FDR to pull back on the New Deal. He did and the nation went into a recession.
In 1938, FDR re-instituted the New Deal and the recession ended.
FDR detractors argue that the economy didn't regain 1929 economic levels until World War II. What these people fail to acknowledge is that the high spending levels during WWII were Keynesian economics and there was a period of more than two years when the United States was gearing up for war but not yet engaged in combat and those numbers are evident on the chart.
Had the New Deal had been as large as WWII spending, recovery would have been even faster. But to argue that the New Deal did nothing can only be argued by a dishonest partisan, willfully ignoring clear facts.
Again, this information is not provided in a mathematical proof of why Keynesian "works". It merely illustrates another situation where correlation != causation.
Well , It has obviously worked here in Canada. Our right wing government has done as much as they can do to put the money into peoples pockets knowing full well they will then spend it. Can you imagine???? A right wing government, Conservative to the core instituted a huge stimulus that per capita is bigger than the USA stimulus. The difference is that none of the money went to banks or any other financial organizations. Our country has weathered the storm better than any other country in the west and it was done using Keynesian economic policies.
Last edited by lucknow; 09-26-2011 at 10:34 AM..
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