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"Keynesian economics, which apparently have been discredited" Uhh. Nope. "literally what Donald Trump and the Republican Party, which were apparently anti-Key
by hcknwscommenter 7y ago
"Keynesian economics, which apparently have been discredited"
Uhh. Nope.
"literally what Donald Trump and the Republican Party, which were apparently anti-Keynesian economics are practicing."
Uhhh. Nope. I'll be wrong in my oversimplification, but at least more right than the above. Keynes' central argument was that in times of depressed aggregate demand and high unemployment, the government can play a massively positive role in stimulating aggregate demand. Keynes never argued in favor of stimulus at times like these.
- AnimalMuppet 7y ago> Keynes never argued in favor of stimulus at times like these. Further: He argued for austerity at times like these, so that the budget would balance over the whole cycle. That idea has far more restraint and fiscal conservatism in it than either party has shown in decades. One could argue that, with interest rates this low, borrowing to work on infrastructure makes sense. That may be a reasonable thing to do, but it's not a Keynesian policy (because we're at the wrong point in the business cycle).