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I'd argue the Keynesian response to the last crisis is what has left us so overleveraged and poorly prepared for this one.
by postingawayonhn 7y ago
I'd argue the Keynesian response to the last crisis is what has left us so overleveraged and poorly prepared for this one.
- RobertoG 7y agoWhat Keynesian response? A Keynesian response would be a fiscal response to a fall in aggregate demand by governments, not a monetary one by central banks.
- tumetab1 7y agoThat's the old problem that those who call themselves, and between them, keynesians ignore the first part of fiscal responsibility on good times. According to tome better read than me it doesn't help that Keynes ideas floated during his writings so many contradictory ideas can be read and/or inferred from it.