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Posted: 11/18/2012 5:18:38 PM EDT
[#1]
It is bad. mmmkay?
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Posted: 11/18/2012 5:18:45 PM EDT
[#2]
Lol
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Posted: 11/18/2012 5:19:10 PM EDT
[#3]
I'd say it's fairly well proven that the theory is wrong.
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Posted: 11/18/2012 5:20:03 PM EDT
[#4]
Quoted: What is the view here? Planned economies don't work. When Keynes originally published his economic theories many people labeled him a communist. |
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Posted: 11/18/2012 5:20:06 PM EDT
[#5]
Keynes is to ARFCOM as a tiny ass is to Michelle Obama.
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Posted: 11/18/2012 5:21:30 PM EDT
[#6]
Quoted:
I'd say it's fairly well proven that the theory is wrong. I think even the Libs know it doesn't work. That being said....they will never admit it....since it then removes an avenue to shower potential voters with money effectively buying votes. Did Keynes ever run a business? Didn't think so |
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Posted: 11/18/2012 5:21:53 PM EDT
[#7]
Like communism, it might work if politicians were virtuous, omniscience and omnipotent. |
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Posted: 11/18/2012 5:22:02 PM EDT
[#8]
My dad votes for Obama/Democrats solely because of this theory.
He has multiple graduate degrees (MBA among them), retired Colonel, and VP of a very, very large defense contractor. It enrages me.... |
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Posted: 11/18/2012 5:23:28 PM EDT
[#9]
If it worked it would have because lord knows it has been tried, especially in Japan.
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Posted: 11/18/2012 5:24:40 PM EDT
[#10]
If it was possible to elicit an outcome as a function of economic policy, the market wouldn't fluctuate...the trend lines would have a linear trajectory aimed at the moon.
Want to now what moves the market? Fear. |
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Posted: 11/18/2012 5:27:29 PM EDT
[#11]
I had a left wing socialist cocksucker professor in college who preached that Keynesian economic theory was like a great manna from heaven, so based on that, I'm going with "it probably sucks."
The economists I subscribe to are Milton Friedman and Thomas Sowell. |
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Posted: 11/18/2012 5:29:55 PM EDT
[#12]
The head Kenyan will decide what theory you will be subjected to.
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Posted: 11/18/2012 5:31:23 PM EDT
[#13]
Adam Smith was right.
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Posted: 11/18/2012 5:31:23 PM EDT
[#14]
Keynesian economics run by a kenyan commie sucks.
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Posted: 11/18/2012 5:34:15 PM EDT
[#15]
Quoted:
The economists I subscribe to are Milton Friedman and Thomas Sowell. Superb Choices |
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Posted: 11/18/2012 5:36:14 PM EDT
[#16]
Are you British?
What odd phrasing in your poll. It is bollocks. Now give me your address so I can come break your window and stimulate the economy. 
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Posted: 11/18/2012 5:37:53 PM EDT
[#17]
Appears there are 4 mentally retarded voters.
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Posted: 11/18/2012 5:38:24 PM EDT
[#18]
Quoted:
My dad votes for Obama/Democrats solely because of this theory. He has multiple graduate degrees (MBA among them), retired Colonel, and VP of a very, very large defense contractor. It enrages me.... That is because the top of the food chain at corporate America fortune 1,000 companies realize Keynesian economic theory is a competitive advantage for those companies rich and powerful enough to employ an army of lobbyists. They don't actually believe it works in the macro long-term sense (no person possessing a shred of common sense would), but in the short term they recognize it is a system that can play to their advantage. |
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Posted: 11/18/2012 5:41:24 PM EDT
[#19]
Quoted:
My dad votes for Obama/Democrats solely because of this theory. He has multiple graduate degrees (MBA among them), retired Colonel, and VP of a very, very large defense contractor. It enrages me.... Considering that both parties follow a very similar monetary policy, I'd say the good Colonel is not nearly as smart as he thinks he is. Politicians of all stripes love Keynes because he allows shameless pork barrelling, which as a government contractor, allows him to sleep at night. |
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Posted: 11/18/2012 5:41:46 PM EDT
[#20]
These need to be posted in every thread that talks about Keynes or Hayek:
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Posted: 11/18/2012 5:41:56 PM EDT
[#21]
JMK was wrong on so many levels, but suffice to say his macroeconomics have no basecin microeconomics.
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Posted: 11/18/2012 5:51:01 PM EDT
[#22]
You can lead a horse to water....
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Posted: 11/18/2012 5:51:49 PM EDT
[#23]
Quoted:
Are you British?
What odd phrasing in your poll. It is bollocks. Now give me your address so I can come break your window and stimulate the economy. I don't think you're well informed on the subject. |
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Posted: 11/18/2012 6:01:24 PM EDT
[#24]
Quoted:
Quoted:
Are you British?
What odd phrasing in your poll. It is bollocks. Now give me your address so I can come break your window and stimulate the economy. I don't think you're well informed on the subject. =trying to make a joke about economics. Apparently it went poorly.
ETA: in an attempt to spell out the joke (having to explain a joke always means it was delivered poorly  ) : The Broken Window Fallacy is brought up in damn near every economics thread in GD. I was just getting it out of the way early. 
Can I be snarky in return and say I don't think you're well informed on humor now? 
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Posted: 11/18/2012 6:06:42 PM EDT
[#25]
Quoted:
Quoted:
Quoted:
Are you British?
What odd phrasing in your poll. It is bollocks. Now give me your address so I can come break your window and stimulate the economy. I don't think you're well informed on the subject. =trying to make a joke about economics. Apparently it went poorly.
ETA: in an attempt to spell out the joke (having to explain a joke always means it was delivered poorly ) : The Broken Window Fallacy is brought up in damn near every economics thread in GD. I was just getting it out of the way early.
Can I be snarky in return and say I don't think you're well informed on humor now? I wanted a legitimate discussion and I put in a little humor. It's not my fault you didn't get it. |
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Posted: 11/18/2012 6:07:11 PM EDT
[#26]
Quoted:
These need to be posted in every thread that talks about Keynes or Hayek:  http://www.youtube.com/watch?v=d0nERTFo-Sk http://www.youtube.com/watch?v=GTQnarzmTOcThis man approves of your post 
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Posted: 11/18/2012 6:08:06 PM EDT
[#27]
I think we've pretty much proven that faculty lounge postulations aside, John maynard keynes was an idiot.
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Posted: 11/18/2012 6:11:30 PM EDT
[#28]
Quoted:
I wanted a legitimate discussion and I put in a little humor. It's not my fault you didn't get it. 
 Hello, Kettle! I'm Pot. Nice to meet you.
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Posted: 11/18/2012 6:12:28 PM EDT
[#29]
Quoted:
These need to be posted in every thread that talks about Keynes or Hayek: http://www.youtube.com/watch?v=d0nERTFo-Sk http://www.youtube.com/watch?v=GTQnarzmTOcCame to post this. |
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Posted: 11/18/2012 6:22:32 PM EDT
[#30]
Hitler was a big fan of Keynes. That should tell you something.
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Posted: 11/18/2012 6:31:47 PM EDT
[#31]
Quoted:
Quoted:
Quoted:
Quoted:
Are you British?
What odd phrasing in your poll. It is bollocks. Now give me your address so I can come break your window and stimulate the economy. I don't think you're well informed on the subject. =trying to make a joke about economics. Apparently it went poorly.
ETA: in an attempt to spell out the joke (having to explain a joke always means it was delivered poorly ) : The Broken Window Fallacy is brought up in damn near every economics thread in GD. I was just getting it out of the way early.
Can I be snarky in return and say I don't think you're well informed on humor now? I wanted a legitimate discussion and I put in a little humor. It's not my fault you didn't get it. Given the dry nature of the subject, you were both funny. 
Keynes is/was wrong, but had great timing. Keynes gave the rising progressive movement an economic theory they could leverage to their advantage. |
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Posted: 11/18/2012 6:35:30 PM EDT
[#32]
Quoted:
My dad votes for Obama/Democrats solely because of this theory. He has multiple graduate degrees (MBA among them), retired Colonel, and VP of a very, very large defense contractor. It enrages me.... I bet his employers revenue is largely made up of .gov spending. He does not give a shit if it is a viable economic theory, only that it keeps giving money to his employer |
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Posted: 11/18/2012 6:37:05 PM EDT
[#33]
Quoted:
Like communism, it might work if politicians were virtuous, omniscience and omnipotent. This, it could work without any greed or corruption whatsoever, with a little omniscience thrown in. |
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Posted: 11/18/2012 6:42:11 PM EDT
[#34]
Friedman FTMFW
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Posted: 11/18/2012 6:42:27 PM EDT
[#35]
the country is butthole deep in Kenyan economic theory....
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Posted: 11/18/2012 6:46:42 PM EDT
[#36]
Quoted:
Quoted:
The economists I subscribe to are Milton Friedman and Thomas Sowell. Superb Choices Sowell's books should be required reading to graduate high school. They are superbly written and chock full of examples. |
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Posted: 11/18/2012 6:49:26 PM EDT
[#37]
I don't remember. I did my best to purge IS-LM curves from my mind.
Fuck Keynes. They don't even teach that shit anymore in grad school. ETA: If you want to read about the more current theory, google real business cycle theory. It was started by Ed Prescott, a cool guy who hates Keynes and made fun of Obama a lot in his undergrad class. |
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Posted: 11/18/2012 6:52:29 PM EDT
[#38]
Theorizes that the amount of wealth present in a system is fixed. Does not promote or even allow for the cration of wealth. A common form of creating wealth that seems robe missing from this theory is entrepreneurial endeavors.
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Posted: 11/18/2012 7:07:00 PM EDT
[#39]
Quoted:
Quoted:
My dad votes for Obama/Democrats solely because of this theory. He has multiple graduate degrees (MBA among them), retired Colonel, and VP of a very, very large defense contractor. It enrages me.... Considering that both parties follow a very similar monetary policy, I'd say the good Colonel is not nearly as smart as he thinks he is. Politicians of all stripes love Keynes because he allows shameless pork barrelling, which as a government contractor, allows him to sleep at night. Exactly - Keynesian economic policy calls for stimulus spending to mitigate a recession, which politicians are more than happy to do. However, to be fair, Keynesian economics also calls for the debt to be repaid when the economy recovers, which never happens in the real world. |
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Posted: 11/18/2012 7:15:37 PM EDT
[#40]
Quoted:
I had a left wing socialist cocksucker professor in college who preached that Keynesian economic theory was like a great manna from heaven, so based on that, I'm going with "it probably sucks." The economists I subscribe to are Milton Friedman and Thomas Sowell. You basically described my macroeconomics professor that i had. |
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Posted: 11/18/2012 7:19:29 PM EDT
[#41]
Quoted: I'd say it's fairly well proven that the theory is wrong. A theory that doesn't work, proven by 8 years of no recovery during the Great Depression |
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Posted: 11/18/2012 7:21:48 PM EDT
[#42]
Quoted:
These need to be posted in every thread that talks about Keynes or Hayek: http://www.youtube.com/watch?v=d0nERTFo-Sk http://www.youtube.com/watch?v=GTQnarzmTOcHELLZ YEAH. |
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Posted: 11/18/2012 7:23:00 PM EDT
[#43]
Quoted:
Adam Smith was right. |
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Posted: 11/18/2012 7:29:30 PM EDT
[#44]
It can work - increase the debt to help in a recession. However, both parties never paid off the debt after a recession and continued with debt spending and no top of that implement polices that are sure to kill an economy - like making loans to people who could never pay it back.
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Posted: 11/18/2012 7:34:40 PM EDT
[#45]
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Posted: 11/18/2012 7:35:04 PM EDT
[#46]
Quoted: It can work - increase the debt to help in a recession. However, both parties never paid off the debt after a recession and continued with debt spending and no top of that implement polices that are sure to kill an economy - like making loans to people who could never pay it back. If you increase spending by, say, giving a "tax break" short term (send everyone tons of money to spend) then they will not change their behavior since they know it will just be taxed right back in the future. In short, it doesn't work. The best economic policy is one with consistent tax rates for all (preferably low) and consistent regulation designed to clarify property rights. |
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Posted: 11/18/2012 7:43:28 PM EDT
[#47]
I just wanted to add, here is what caused the death of Keynesianism (thank God).
http://en.wikipedia.org/wiki/Real_business_cycle_theory http://www.minneapolisfed.org/research/prescott/papers/timetobuild.pdf |
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Posted: 11/18/2012 7:45:36 PM EDT
[#48]
Quoted:
Quoted:
It can work - increase the debt to help in a recession. However, both parties never paid off the debt after a recession and continued with debt spending and no top of that implement polices that are sure to kill an economy - like making loans to people who could never pay it back. If you increase spending by, say, giving a "tax break" short term (send everyone tons of money to spend) then they will not change their behavior since they know it will just be taxed right back in the future. In short, it doesn't work. The best economic policy is one with consistent tax rates for all (preferably low) and consistent regulation designed to clarify property rights. Ricardian Equivalence, FTMFW |
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Posted: 11/18/2012 8:44:00 PM EDT
[#49]
Keynesian models have their place in this world. Keynesian theories do too: the trashcan.
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Posted: 11/18/2012 8:46:36 PM EDT
[#50]
15 people here who can't figure out that the stimulus was a flop.
1 President who could have learned that the 1930's was a lost decade for this country and saved us the debt, inflation and economic stagnation we just went through (or even learned from the Japanese more recently who built unneeded infrastructure to stimulate the economy and ended up with a lost decade as well). The problem of course is that democrat's have seen that these plans get people excited and will get them elected... which is all they really care about anyway. |
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