Message from @Comando
Discord ID: 599455647615942695
<:poggers:583775485620781087>
Im liking this new board loads
THIS IS SHIT I ACTUALLY LEARNED
very sturdy feeling
One of the key differences between economics prior to Kenyes was that the economy would always rebound. For S O M E R E A S O N it didn't.
@Comando yer making me feel smart for going to college now <:hypersmugon:544638648721604608>
HMMMMMMMMMMMMMM
H<:sarGOY:462286263622303754> <:sarGOY:462286263622303754> <:sarGOY:462286263622303754> <:sarGOY:462286263622303754> <:sarGOY:462286263622303754>
@Comando certainly no one behind that
Hi niggers
(((some reason)))
pre-keynesian (bourgeois) economists generally thought there couldn't be a general glut in aggregate demand
a belief based on very silly assumptions
Keynes in contrast identified that something had changed. He conceptulized that there was a force which unlike before, was cutting into the effective demand (aggregate demand) of the economy.
So whilst the country had the factories, and the people willing to work them, the money that existed was not being applied to the economy.
^
Interesting, isn't it
i don't get it
Almost like we lost control of our entire system, in 1936
Keynes solution? Use Government spending to increase aggregate demand to get out of the rut, then scale back involvement, during the good times so you can do it again later.
but im taking economics in a month so ill find out then
When Keynesian Econ was in it's very beginning
yeah like borrowing from the future
or saving up rather
Keynesism worked really well... until it didn't, and broke western economies in the late 1960's and 70's in the form of inflation
The problem being that there is no such thing as a Keynesian politician
it didn't break them
"Saving up" by alliance with childfuckers, and taking their criminals as asylum seekers
stagflation broke them
and keynesian schools at the time couldn't explain stagflation
it provided the impetus for the ascendance of neoliberalism
They bloody well could explain what had happened, but weren't willing to accept that Governments had over applied fiscal policy
@Comando my understanding is that it was only supposed to be temporary. To be replaced within a few decades, and it never was.
^Politicians will always have an incentive to spend and do something. This means that they will rarely cut back spending in practice. so Keynesianism is good when your in a rut, but will eventually break your economy if you continue it onwards.
Today's economists are basically complete Keynesian hacks. They do not intend to revitalize the west, only increase its dependency on internationalism
i'm pretty sure the consensus at the time was that there existed an inverse relationship between unemployment and inflation
I myself fall into being a post-Keynesian.
I think that Keynes was using tools, which while not... wrong, weren't correct in their understanding.
No shit. They were designed to skirt the costs of the Second World War, not to supposed an empire