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> What Keynes missed is that free markets generate new desires I've been curious if, as a result of the attitude toward aggregate demand that grew as a respons
by afarrell 11y ago
> What Keynes missed is that free markets generate new desires
I've been curious if, as a result of the attitude toward aggregate demand that grew as a response to the Great Depression and Keynes work, we have deliberately designed our society to try to generate more and more desires.
- notahacker 11y agoMost of the driving of new desires is done by individual companies in the private sector though. Apple aren't trying to stimulate aggregate demand each time they release a new phone, they're trying to increase their future profits, just like every other company before them. Keynesianism ensures these companies can borrow more cheaply in an economic downturn, as can the less-likely-to-lose-their-job consumers. But it's lubricating the process of creating new markets rather than powering it.