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It's possible that as with Keynes' advice about counter-cyclic spending the Chicago school's views on monopoly and antitrust have been distorted by politicians
by api 8y ago
It's possible that as with Keynes' advice about counter-cyclic spending the Chicago school's views on monopoly and antitrust have been distorted by politicians and lobbyists.
In the case of Keynes counter-cyclic spending became "deficits don't matter, always spend more no matter what." In recessions spending goes up and in booms spending goes up. Keynes argued that governments should cut during booms to achieve something at least close to a net balance, but the cutting part is ignored.