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

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