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I don't think mainstream US and UK economics is dominated by Keynesianism. A good example is the current debate about cutting spending. The Uk has conservatives
by Andrew_Quentin 13y ago
I don't think mainstream US and UK economics is dominated by Keynesianism. A good example is the current debate about cutting spending. The Uk has conservatives in power and they are cutting spending which is deflationary. The US has democrats in power and they aren't cutting spending but maybe even increasing it which is inflationary. Keynes would definitely recommend to increase spending or at least not cut it while Hayek the opposite.
- argonaut 13y agoI said nothing about UK politics, merely US politics.