Americans Reject Keynesian Economics

Onceler said:
Most businesses would fail if they did not engage in deficit-spending at certain points of their existence.

Beyond that, the idea is that the hole could be a lot bigger if spending didn't turn around on a mass scale. When people lose jobs and businesses continue to fail & cut back, revenues also go down accordingly...
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this is inevitable when the government constricts the free market and makes it difficult or near impossible for people to create wealth
 
SmarterThanYou said:
this is inevitable when the government constricts the free market and makes it difficult or near impossible for people to create wealth
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I don't think it's either difficult of impossible in present-day America to create wealth.

I don't think there is a time or country in history that has been able to boast such ample opportunity, as well as results of people gaining wealth with little but an idea and hard work...
 
Onceler said:
I don't think it's either difficult of impossible in present-day America to create wealth.

I don't think there is a time or country in history that has been able to boast such ample opportunity, as well as results of people gaining wealth with little but an idea and hard work...
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True that. We'll get out of this because we are resilient. IMO, we need the people to trust themselves rather than look to the government though.
 
Onceler said:
There is a reason that advanced economic policy & other national decisions are not put forth to the American public to decide. The public's role is to pick a leader who they trust & who will surround him or herself with the best people.

Most people do not have economic degrees, economic experience on the national scale or even a general idea about economics at that level....
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It's like asking turkeys to vote for Xmas.
 
Last edited:
Americans do not even know what Keynesian economics is - the links below can change that. It so often amazes me that people who know so little find it necessary to post information that proves it. The last Keynesian was Reagan, who spent like a drunken sailor on defense and reduced taxes at the same time. In Reagan's defense he did raise taxes several times after that in an attempt to bring order back into the economy. Clinton raised taxes and was also lucky that Y2K and the Internet bubble provided massive spending. What happened next was America elected a buffoon who could have taken a surplus and rebuilt much of the infrastructure, maintaining jobs and building up the nation. Instead the dipshit reduced taxes and regulatory structure, and started two unnecessary wars, creating massive debt as he stupidly but steadfastly refused to raise taxes. Welcome to today.

http://www.huppi.com/kangaroo/Summary.htm

The causes of the Great Depression are hotly disputed by scholars even to this day. No one knows the ultimate reason why the economy started plunging downhill in 1929. However, several things are certain:
There was a variety of things wrong with the economy going into 1929, and they had been deteriorating throughout the decade.

The conservative economic policies of the 1920s -- low taxes, little regulation, lack of anti-trust enforcement -- did nothing to stop the August recession and the October stock market crash.

Hoover kept the Federal Reserve from expanding the money supply while bank panics and billions in lost deposits were contracting it. The Fed's inaction was the reason why the initial recession turned into a prolonged depression.

The economy continually sank throughout Hoover's entire term. Under Roosevelt's New Deal, it rose five out of seven years.

Attempts to blame Big Government for the Depression do not withstand serious scrutiny. The Smoot-Hawley Tariff had a minor impact because trade formed only 6 percent of the U.S. economy, and reducing trade gave Americans only that much more money to spend domestically.

Hoover's other attempts at government intervention came mostly during his last year in office, when the Depression was already at its depth.

The first nations to come out of the Great Depression -- Sweden, Germany, Great Britain, and then everyone else -- did so after they adopted the Keynesian solution of heavy deficit government spending.

Keynesian economic policies have eliminated the depression from the world's economies in the six decades that have followed.


http://www.hyperhistory.com/online_n2/connections_n2/great_depression.html
http://www.fsmitha.com/h2/ch15wd.html
http://gusmorino.com/pag3/greatdepression/
http://historymatters.gmu.edu/d/6787

interesting for today
http://www.project-syndicate.org/commentary/james27


[ame="http://www.amazon.com/Great-Depression-New-Deal-Introductions/dp/0195326342/ref=sr_1_8?ie=UTF8&qid=1230302046&sr=1-8"]Amazon.com: The Great Depression and the New Deal: A Very Short Introduction (Very Short Introductions) (9780195326345): Eric Rauchway: Books@@AMEPARAM@@http://ecx.images-amazon.com/images/I/41mZlte0yqL.@@AMEPARAM@@41mZlte0yqL[/ame]
 
Onceler said:
I don't think it's either difficult of impossible in present-day America to create wealth.

I don't think there is a time or country in history that has been able to boast such ample opportunity, as well as results of people gaining wealth with little but an idea and hard work...
Click to expand...

Anybody who thinks the Government has been making it difficult or nearly impossible to create wealth is just a lazy person who isn't willing to put in the hours necessary to create some wealth.

2010 is already shaping up to be the best year for our business in a little while! Clients are coming back and business is booming!
 
Politicians and statists derive their power from spending. Fiat currency Spending as a panacea is a result of this power.

Waiting for organic growth is not desired by these fascists because that organic growth is out of their control.

this is all one needs to know about keynesianism. Any other framing is the propaganda of fascists.
 
Middie, the economy actually grew enormously after the first quarter of 1932 (when it hit its low point), and Hoover was in office until March of 1933.
 
midcan5 said:
Americans do not even know what Keynesian economics is - the links below can change that. It so often amazes me that people who know so little find it necessary to post information that proves it. The last Keynesian was Reagan, who spent like a drunken sailor on defense and reduced taxes at the same time. In Reagan's defense he did raise taxes several times after that in an attempt to bring order back into the economy. Clinton raised taxes and was also lucky that Y2K and the Internet bubble provided massive spending. What happened next was America elected a buffoon who could have taken a surplus and rebuilt much of the infrastructure, maintaining jobs and building up the nation. Instead the dipshit reduced taxes and regulatory structure, and started two unnecessary wars, creating massive debt as he stupidly but steadfastly refused to raise taxes. Welcome to today.

http://www.huppi.com/kangaroo/Summary.htm

The causes of the Great Depression are hotly disputed by scholars even to this day. No one knows the ultimate reason why the economy started plunging downhill in 1929. However, several things are certain:
There was a variety of things wrong with the economy going into 1929, and they had been deteriorating throughout the decade.

The conservative economic policies of the 1920s -- low taxes, little regulation, lack of anti-trust enforcement -- did nothing to stop the August recession and the October stock market crash.

Hoover kept the Federal Reserve from expanding the money supply while bank panics and billions in lost deposits were contracting it. The Fed's inaction was the reason why the initial recession turned into a prolonged depression.

The economy continually sank throughout Hoover's entire term. Under Roosevelt's New Deal, it rose five out of seven years.

Attempts to blame Big Government for the Depression do not withstand serious scrutiny. The Smoot-Hawley Tariff had a minor impact because trade formed only 6 percent of the U.S. economy, and reducing trade gave Americans only that much more money to spend domestically.

Hoover's other attempts at government intervention came mostly during his last year in office, when the Depression was already at its depth.

The first nations to come out of the Great Depression -- Sweden, Germany, Great Britain, and then everyone else -- did so after they adopted the Keynesian solution of heavy deficit government spending.

Keynesian economic policies have eliminated the depression from the world's economies in the six decades that have followed.


http://www.hyperhistory.com/online_n2/connections_n2/great_depression.html
http://www.fsmitha.com/h2/ch15wd.html
http://gusmorino.com/pag3/greatdepression/
http://historymatters.gmu.edu/d/6787

interesting for today
http://www.project-syndicate.org/commentary/james27


Amazon.com: The Great Depression and the New Deal: A Very Short Introduction (Very Short Introductions) (9780195326345): Eric Rauchway: Books
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What amazes me is that people like ID who are criticizing a time tested and proven economic policy, like Keynesian economic policy, do so with out even understanding it. Then they turn around and claim support for a psuedo economic system which has never been demonstrated to work and has mostly faild, such as supply side economics.
 
Mott the Hoople said:
What amazes me is that people like ID who are criticizing a time tested and proven economic policy, like Keynesian economic policy, do so with out even understanding it. Then they turn around and claim support for a psuedo economic system which has never been demonstrated to work and has mostly faild, such as supply side economics.
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It's only proven be totalitarian and inflationary, but that doesn't matter to the bankers and their friends who like to be totalitarians and are unphased by inflation because THEY MAKE THE MONEY. HELLO! The power inequality this idiot system introduces into society renders it reprehensible.
 
AssHatZombie said:
It's only proven be totalitarian and inflationary, but that doesn't matter to the bankers and their friends who like to be totalitarians and are unphased by inflation because THEY MAKE THE MONEY. HELLO! The power inequality this idiot system introduces into society renders it reprehensible.
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I agree with you. Supply Side Economics is reprehensible economic policy.
 
AssHatZombie said:
Maybe it was disproven as a valid way to cure recession, but it's the tops for perpetuating fascist power grabs. That's why they're still doing it anyway.
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So you don't like Keynesianism, because it concentrates power in the hands of the state. I know you also reject the Austrian/Chicago schools (Mises, Hayek, Friedman), because they lead to control by teh evilz corporation.

So is there an economic philosophy out there you do embrace? Just say Jeffersonian, so I can LOL to death.
 
Threedee said:
So you don't like Keynesianism, because it concentrates power in the hands of the state. I know you also reject the Austrian/Chicago schools (Mises, Hayek, Friedman), because they lead to control by teh evilz corporation.

So is there an economic philosophy out there you do embrace? Just say Jeffersonian, so I can LOL to death.
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I do not reject what you have said. Thanks for your pathetic strawman stupidity.
 
AssHatZombie said:
Economists are paid to lie for the fascists in control.
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Economists are people with degrees in economic, accounting, business, etc., who actively contribute to the field by publishing their theories and findings, or by presenting them in some other form. Like any other field, there is a huge range of ideas, from Karl Marx to Andrew Mellon.
 
Threedee said:
Economists are people with degrees in economic, accounting, business, etc., who actively contribute to the field by publishing their theories and findings, or by presenting them in some other form. Like any other field, there is a huge range of ideas, from Karl Marx to Andrew Mellon.
Click to expand...

And the ones informing policy decisions are paid to give an psuedointellectual underpinning to the totalitarian power of fiat currency.
 
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