dito is offline dito Post #1  December 28,2008, 7:40am
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http://www.youtube.com/watch?v=VoxDyC7y7PM&eurl=http://www.campaignforliberty.com/





Pretty simple and easy to understand video of why Keynesian doesn't work.
 
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ThePriestess is online now ThePriestess Post #2  December 28,2008, 10:41am
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There are good points, but I didn't hear any real solutions offered in exchange.


The video makes some errors, over simplifies the situation, and doesn't address the full breadth of Keynesian economic theory.


Economics can be a complex subject with each factor being influenced by, as well as influencing, the other factors. Keynes' thoughts favored government giving the economy a "jump start", in hopes of it cycling upward on its own thereafter, during times of recession ... but he also believed it was necessary for government to curb excessive growth in times of expansion.


Personally I think the ideas might work better if applied earlier in the cycle through indirect measures, but I know it's difficult to recognize cycles and I'm no economist.
 
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dito is offline dito Post #3  December 28,2008, 2:41pm
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Here is another article for you to read: http://online.wsj.com/article/SB123033898448336541.html





Keynesian economics don't work they never had. The government can't boost the economy as the video says they can only take from it. During a recession people have to tighten their belts. It's just part of the business cycle. There will always be recessions. The government can lessen the burden it puts on the people but making itself smaller and cutting spending. Instead it is going to do the opposite.





Also the question is where are they going to get the money from? It either comes from borrowing or printing, which help none of us.
 
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Fide_Et_Marte is offline Fide_Et_Marte Post #4  December 28,2008, 3:56pm
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ThePriestess,398665 wrote :

There are good points, but I didn't hear any real solutions offered in exchange.


The video makes some errors, over simplifies the situation, and doesn't address the full breadth of Keynesian economic theory.
It's difficult to be comprehensive in seven and a half minutes.


For further reading, here are two long-ish articles:
Economic Depressions: Their Cause and Cure
http://mises.org/story/3127
Taking Money Back
http://mises.org/story/2882


The latter advocates solutions.
 
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ThePriestess is online now ThePriestess Post #5  December 28,2008, 8:08pm
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dito,399048 wrote :

(a) Here is another article for you to read:


(b) The government can't boost the economy as the video says they can only take from it.
(a) Sorry, not going to waste any more of my time reading poorly constructed articles that don't really address the issue they claim to address.


(b) Actually, the video said that the government can only redistribute ... which has some truth and some untruth. Keynesian economics doesn't claim to increase the economy, simply to induce expansion rather than reduction.


I encourage you to actually read about Keynes' theories. I think you'll find many cases contradictory to the supposed implementation.
 
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dito is offline dito Post #6  December 28,2008, 8:34pm
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ThePriestess,399635 wrote :

dito,399048 wrote :


(a) Here is another article for you to read:


(b) The government can't boost the economy as the video says they can only take from it.


(a) Sorry, not going to waste any more of my time reading poorly constructed articles that don't really address the issue they claim to address.


(b) Actually, the video said that the government can only redistribute ... which has some truth and some untruth. Keynesian economics doesn't claim to increase the economy, simply to induce expansion rather than reduction.


I encourage you to actually read about Keynes' theories. I think you'll find many cases contradictory to the supposed implementation.
(a) Actually it does.


(b) Whatever it claims to do it doesn't work.





Keynes theories only work for the short term. I am more concerned with the long term.
 
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ThePriestess is online now ThePriestess Post #7  December 28,2008, 9:17pm
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dito,399685 wrote :

Keynes theories only work for the short term. I am more concerned with the long term.
Keynes theories aren't supposed to be applied in the long term, they are intended to induce or curb growth ... long term growth in a free market economy will always reside outside of government ... but this does not mean government is without the ability to encourage or discourage.


Also, Keynes himself noted that his theories applied best to totalitarian situations.


If you're going to make a claim against Keynes' theories, you should address them, rather than some crude misrepresentation.
 
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dito is offline dito Post #8  December 29,2008, 5:38am
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It would be nice if that was true. Unfortunately the government is interfering in the free market. Borrowing and spending in the short term creates a bigger hole to dig out of in the long term. We are certainly headed to totalitarian policies.
 
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