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Perhaps I'm painting with too broad a brush, and if we want to get into a technical argument, I will concede your point; but when I see multiplier effect and sa
by mariodiana 5y ago
Perhaps I'm painting with too broad a brush, and if we want to get into a technical argument, I will concede your point; but when I see multiplier effect and savings glut, I don't really need to see much more. The thrust of this is the "market" has failed and more government intervention is the answer. This is the destructive ignorance I'm referring to.
- xapata 5y agoThe article was crap, I agree. Keynes would be better characterized by discussing government intervention to address a market failure, rather than saying the market has failed, which has different connotations. Personally, I disagree with calling government choices an intervention, because the government is a market participant, and both the market and government are embedded in the society which creates them.