Message from @n meowzers

Discord ID: 599455717253971974


2019-07-13 04:19:44 UTC  

very sturdy feeling

2019-07-13 04:19:58 UTC  

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.

2019-07-13 04:20:00 UTC  

@Comando yer making me feel smart for going to college now <:hypersmugon:544638648721604608>

2019-07-13 04:20:07 UTC  

HMMMMMMMMMMMMMM

2019-07-13 04:20:21 UTC  

H<:sarGOY:462286263622303754> <:sarGOY:462286263622303754> <:sarGOY:462286263622303754> <:sarGOY:462286263622303754> <:sarGOY:462286263622303754>

2019-07-13 04:20:22 UTC  

@Comando certainly no one behind that

2019-07-13 04:20:23 UTC  

Hi niggers

2019-07-13 04:20:28 UTC  

(((some reason)))

2019-07-13 04:20:54 UTC  

pre-keynesian (bourgeois) economists generally thought there couldn't be a general glut in aggregate demand

2019-07-13 04:20:57 UTC  

https://cdn.discordapp.com/attachments/598761542200197120/599455195843526678/image0.jpg

2019-07-13 04:20:59 UTC  

a belief based on very silly assumptions

2019-07-13 04:21:29 UTC  

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.

2019-07-13 04:21:54 UTC  

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.

2019-07-13 04:22:09 UTC  

^

2019-07-13 04:22:21 UTC  

Interesting, isn't it

2019-07-13 04:22:33 UTC  

i don't get it

2019-07-13 04:22:40 UTC  

Almost like we lost control of our entire system, in 1936

2019-07-13 04:22:43 UTC  

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.

2019-07-13 04:22:47 UTC  

but im taking economics in a month so ill find out then

2019-07-13 04:22:59 UTC  

When Keynesian Econ was in it's very beginning

2019-07-13 04:23:00 UTC  

yeah like borrowing from the future

2019-07-13 04:23:11 UTC  

or saving up rather

2019-07-13 04:23:27 UTC  

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

2019-07-13 04:23:44 UTC  

The problem being that there is no such thing as a Keynesian politician

2019-07-13 04:23:48 UTC  

it didn't break them

2019-07-13 04:23:53 UTC  

"Saving up" by alliance with childfuckers, and taking their criminals as asylum seekers

2019-07-13 04:23:59 UTC  

stagflation broke them

2019-07-13 04:24:07 UTC  

and keynesian schools at the time couldn't explain stagflation

2019-07-13 04:24:22 UTC  

it provided the impetus for the ascendance of neoliberalism

2019-07-13 04:24:50 UTC  

They bloody well could explain what had happened, but weren't willing to accept that Governments had over applied fiscal policy

2019-07-13 04:25:09 UTC  

@Comando my understanding is that it was only supposed to be temporary. To be replaced within a few decades, and it never was.

2019-07-13 04:25:46 UTC  

^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.

2019-07-13 04:25:51 UTC  

Today's economists are basically complete Keynesian hacks. They do not intend to revitalize the west, only increase its dependency on internationalism

2019-07-13 04:25:57 UTC  

i'm pretty sure the consensus at the time was that there existed an inverse relationship between unemployment and inflation

2019-07-13 04:26:22 UTC  

I myself fall into being a post-Keynesian.

2019-07-13 04:26:48 UTC  

I think that Keynes was using tools, which while not... wrong, weren't correct in their understanding.

2019-07-13 04:27:18 UTC  

No shit. They were designed to skirt the costs of the Second World War, not to supposed an empire

2019-07-13 04:27:21 UTC  

Keynes sucessfully identified that SOMETHING had changed, and that money was not being applied to the economy in the 30's and onwards

2019-07-13 04:27:24 UTC  

Let alone the entire world

2019-07-13 04:27:27 UTC  

post-keynesianism seems better than mainstream econ