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It’s interesting to see that it’s not necessarily that Keynesianism works, it’s just that is helps governments avoid making decisions. And this has made it incr
by zpeti 6y ago
It’s interesting to see that it’s not necessarily that Keynesianism works, it’s just that is helps governments avoid making decisions. And this has made it incredibly popular.
I don’t think it can be used forever. It’s a bit like carrying on drinking on a hangover. After a while it’s going to catch up with you and the longer you carry on the worse it will be at the end.
- notahacker 6y ago> it’s not necessarily that Keynesianism works, it’s just that is helps governments avoid making decisions. This is the precise opposite of the usual critique of Keynesianism: the mainstream conservative/neoclassical arguments that [i] Keynesian macroeconomics overestimates the ability of and need for governments to intervene in the economy, and [ii] that macroeconomic stability is better achieved by designing rules for fiscal/monetary policy than giving governments free reign to make decisions