3 ms·
"Most of those conflicts are a pretense to funnel trillions of dollars into the economy," This is called military Keynesianism. It's how you can sell Keynesian
by api 12y ago
"Most of those conflicts are a pretense to funnel trillions of dollars into the economy,"
This is called military Keynesianism. It's how you can sell Keynesian economics in conservative societies that oppose anything resembling "social" spending. Since it's somehow not wasteful or "socialist" to funnel unlimited stimulus money through the defense budget, that's where it gets funneled.
The catch is that you have to have a war somewhere to keep justifying it.
- thecage411 12y agoThe term is actually "Weaponized Keynesianism", http://krugman.blogs.nytimes.com/2011/10/29/more-thoughts-on-weaponized-keynesianism/ http://krugman.blogs.nytimes.com/2011/10/29/more-thoughts-on... for reference
- tunap 12y agoAnd it all comes down to "Supply or Demand". Whatever justifies the greatest return for those who hold the power.
- nickik 12y agoIm absolutly no Keynsian but you are misrepresting it. Keynesiansim is not 'lots of government spending' its about increasing spending in case of AD shortfall. Now that might be millitary spending but that only works in a limited set of cases. But the basic idea is of course often used as a excuse by lots of people. Turns out neither the voters nor the politicans have actually read much actual economic theory.
- api 12y agoI'm aware of that, and you're right: pop Keynesianism is not what Keynes actually argued.