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People who support pro inflation monetary policy think they know more than those of us who still value the Austrian school of economics. They treat Keynes as se
by freejulian85 7y ago
People who support pro inflation monetary policy think they know more than those of us who still value the Austrian school of economics. They treat Keynes as settled fact.
- icebraining 7y agoOr maybe the Austrian economics fans are downvoting you for your suggestion of labor protectionist policies.
- eru 7y agoOh, if you want to go that route, you shouldn't just rail against inflation. You should demand proper deflation. See https://mises.org/library/less-zero-case-falling-price-level-growing-economy-0 https://mises.org/library/less-zero-case-falling-price-level... You seem to hold a very curious combination of opinions? In favour of globally regulating labour markets (and threatening trade restrictions to enforce that), but also in favour of Austrian economics?
- QuesnayJr 7y agoIt pretty much is settled fact. There were some hold-outs, but we recreated the conditions of the Great Depression, and then we had a crash as large as the Great Depression. Countries pursued more or less Keynesian policies in response, and the countries that pursued the most Keynesian policies recovered the fastest. It's as close to an experimental test of Keynesianism as we're ever likely to see, and it came out in favor of Keynesianism.