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Keynesian economics is only partially wrong, the only case where it is always wrong is if the Government always buy productivity less efficiently than the free
by tankenmate 14y ago
Keynesian economics is only partially wrong, the only case where it is always wrong is if the Government always buy productivity less efficiently than the free market. Given the rather poor job that financial institutions have done recently I would think it would be hard to argue that this is always the case; we all know public servants don't get paid the insane wages that bank executives do.
Regardless of whether the source is the government or employers giving money to poor people is a good way to boost productivity because poor people spend money, rich people by comparison don't.
- gadders 14y agoGovernment buys everything less efficiently than the free market. That's what you can do when individuals aren't held accountable (I'm talking about government employees, not elected officials).
- crdoconnor 14y ago* The totally free market is an ideological myth. * The US spends roughly double the % of GDP of other nations in Europe with single payer on healthcare and gets similar results. That's twice as expensive for the same result. Their "government spending" is 2x as efficient as the totally private US system.