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Politics : View from the Center and Left
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To: Katelew who wrote (130241)2/5/2010 3:23:19 PM
From: Mary Cluney   of 542457
 
<<<The ideas and comments I toss out on this thread are simply my own. They are based on what typically occurs in a so-called business cycle. They are also based on CURRENT facts involving wage distribution, consumer and govt. debt levels, tax structures (both state and federal) and perhaps most important of all, demographic trends>>>

I thought you must have had some reason for picking up the pitchfork and calling Krugman's views drivel especially when it is backed up by history and by most people who study such things:

Keynes' theory suggested that active government policy could be effective in managing the economy. Rather than seeing unbalanced government budgets as wrong, Keynes advocated what has been called countercyclical fiscal policies, that is policies which acted against the tide of the business cycle: deficit spending when a nation's economy suffers from recession or when recovery is long-delayed and unemployment is persistently high—and the suppression of inflation in boom times by either increasing taxes or cutting back on government outlays. He argued that governments should solve problems in the short run rather than waiting for market forces to do it in the long run, because "in the long run, we are all dead."
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