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Anyone sane would look at the evidence and say that Keynesian stimulus works sometimes, and not others Sure, and you quoted my qualifier, too. I did say that t
by CWuestefeld 17y ago
Anyone sane would look at the evidence and say that Keynesian stimulus works sometimes, and not others
Sure, and you quoted my qualifier, too. I did say that the question is, "just how wrong?" (Not that there isn't an ideology I favor, but I don't think I was whitewashing to sell it)
You'll note that some of the credit in the early 60s has to be given to anti-Keynesians. Kennedy's tax cuts broke from the Keynesian model, and were successful. And if you'll buy into Hayek a little, I'll assert that the WWII boom (no pun intended) can't be credited to following any particular school, but is simply because the economic question is easy when you can get the whole society on the same page, working toward the same goal.
- ajross 17y agoIndeed, and the same qualifier would give a blanket "wrong" to supply-side theory too. After all, it failed in the '28-'32 period. Just how wrong is the question. That logic doesn't work, sorry. Keyensian thought isn't "proved" wrong in anything but the ideological fantasies of Wall Street Journal editorialists.