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Failure to recognize J. M. Keynes's work guarantees further crises
- miles 7y agoOn the contrary; it is our slavish devotion to Keynesianism that promises a continued future of boom and bust cycles: Keynes vs. Hayek, Round 1 & 2: https://youtube.com/watch?v=d0nERTFo-Sk https://youtube.com/watch?v=d0nERTFo-Sk https://youtube.com/watch?v=GTQnarzmTOc https://youtube.com/watch?v=GTQnarzmTOc
- Unsimplified 7y agoHigh unemployment means that people with money are buying too slowly and/or too non-uniformly. The responsibility to spend money quickly/uniformly falls intuitively on the rich, and thoughtfully also with the poor. Everyone, truly. This is the fundamental monetary-macroeconomic problem. How to guarantee the flow of money through everyone.