What a poor Keynesian argument!
Oh, pray tell me, what happens as we spend LESS money on buying goods!
Hint - we end up with more money to consume & invest ELSEWHERE, which will go into the LOCAL economy & it will create more jobs in LOCAL-CONSUMPTION; as I've said before, higher currency means less export-jobs but more local-consumption jobs & lower currency means more export-jobs but less local-consumption jobs!
It is this Keynesian stupidity that pervades the economic sphere that people are made to believe that government devaluing their currency is "good for jobs" & all it leads to is people losing their purchasing-power & a race to the bottom between all countries trying to see who can devalue the fastest - CURRENCY WARS!
It's because Keynesians are so incapable of understanding the concept of "opportunity cost" that they also support massive government spending, not realizing that government spending more simply means less capital & labor available to the private sector (productive sector to be precise)
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