Keynesianism is dead!!!
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Anyone hear Eliot Spitzer afterward?
There is only one success -- to be able to spend your life in your own way.
-- Christopher Morley (1890 - 1957)
Well, it is.
he blames the recession on libertarian thought basically, deregulation
Keynesianism may be in the process of being "purified," not necessarily dying.
Was Keynes a Keynesian?
"Would John Maynard Keynes himself even agree with the perpetual deficit-spending that has been going on for the past 40 years in America?
More @ http://dailycaller.com/2010/09/10/wa...s-a-keynesian/
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It is my opinion that if his theories had worked as planned, the US would have emerged from the Great Depression perhaps in a few years, three or four at most. Anytime it takes 10 years of massive government spending to “get out” of a recession, I believe that perhaps something else probably could have done it better and quicker.
...
However, based on some recent reading and re-reading of Sir Keynes’ writings, I have come to the conclusion that Mr. Keynes might be getting a bad rap nowadays. It seems as if even he would have to be uncomfortable at the very least with being tagged as the “main reason” why we have run annual deficits for 47 of the past 50 years."
When and where is the funeral? I need closureKeynesianism is dead!!!
The results are dead, because they never existed, but Keynesianism is still the dominant thought process right now. It is taught in Economics classics as the only model. Heck, I'm in Econ right now and we have to study and memorize the Keynesian Model.
Don't you just want to scream out every second that it's all bull? I know I do. He gave a 10 minute lecture on why there needs to be government-controlled monopolies and that they're good for the economy, and how free markets have an unbelievable amount of flaws. Ugh...at least it's a cakewalk.
If I was Ron Paul I would have just started pointing and laughing at Spitzer and call him a $#@!ing tool.
I tried, he is pretty old and anytime I say anything, he'll just repeat himself and then go back to whatever he was talking about. This Neo-Con in my class kept trying him and it was to no avail. I get to do nothing in that class and it's fine. I can't skip it because he takes attendance on random days.
Tube?
For Liberty - Feature-length doc about the 2008 R3V | Twitter
The first day of class my teacher said out of no where something to the effect that this wasn't the class to debate Austrian theory, she was just there to teach us the current macro theory, which involves the Keynesian models.
I was shocked to hear Austrians mentioned by name, but I'll respect her wishes.
That said, it bugs the hell out of me. She keeps mentioning the aspects (C+I+G) independently, as if they have no affect on the other. She would say how government spending increases GDP and output and affects the IS curve, but makes no correlation that the money has to be paid for (increased taxes, less consumption, eventually higher interest rates) or borrowed. So because an increase in government spending increases overall demand and output, its good, irregardless of its secondary effects which don't get mentioned in correlation.
/end rant.
In the end, it's never what you worry about that gets you.
Spitzer is an idiot, and I have a crush on Dana Loesch.
Libertarians - trying to improve the world through ideas and free markets rather than legislation and prisons.
They all tried to educate the idiot, but he just doesn't seem to get it.
Everyone making sense all around him and this one guy is just living on his own planet.
The only reason I can think of is somehow he makes lots of money with the "system" the way it is. He keeps saying how things as they are are somehow "the norm" and if you are a freedom loving American who believes in the principals of the founders, you are way off base and it will never work.
There has to be a profit motive to what he's doing, I can smell it. No real hard working American would think like this guy does.
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