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The US government has been performing standard Keynesian monetary & fiscal stimulus measures during crises since the Depression. That's what I mean when I say t
by pradn 6y ago
The US government has been performing standard Keynesian monetary & fiscal stimulus measures during crises since the Depression. That's what I mean when I say the government is ready to spring into action. It's possible to imagine a totally laissez-faire world where they wouldn't do that. Despite the strength of free-marketeers in the US, we're not quite there yet.