It's technically post capitalism

the unifying theme of the different schools is the rejection of say's law, that is, the idea that there cannot be a general glut in aggregate demand, and that shortfalls in aggregate demand can be rectified via some sort of stimulus

wtf does that mean

the most popular brand of keynesian econ nowadays generally prescribes the manipulation of interest rates and growth of private credit as the method to do so

It's internationalism

basically you can look at demand and supply in aggregate

a glut means that supply outstrips demand in aggregate

The point of me saying "I'm a layman" is so that you don't use techinqual terms so that I can understand

@Muten

so in a recession for example people may not be spending enough for the economy to perform at capacity

which results in high levels of unemployment

@Comando where is legend?

like new deal

the reason why keynesian stimulus takes the form it does is precisely because of capitalism

give people jobs

even if you 'couldn't afford' it

it makes them spend money

Okay, well how about this. We have more debt than we can ever pay back, and spend more and more each year. The socialists and kikes want more spending, because that means they can further disperse owenership of production and jobs outside the country. Outsourcing is a huge part of Keynesian economics.

well with fiat currency you can always afford anything the only limit is inflation

It was also supposed to be replaced, but instead those in charge of our institutions would rather continue digging our own grave

outsourcing is a huge probrlem

the public debt only really matters because it is required (legally) that the deficit be financed through bonds when this doesn't have to be the case

^ because we lost control of our system.

@Muten
P = Price level (inflation)
Y = Real income(quantity of stuff produced)
AD = Aggregate demand (Aggregate meaning total)
LRAS = Long Run Aggregate Supply (the total capacity of the economy)

It's now international, and without constant support from our """"allies"""" America and the rest of the west would collapse

our economy wants off of keyne's wild ride

Part of that support is the migrant crisis, fyi

<: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