You did it again, Rockhead. Your last post rates up their with your worst so far.
<<Gary, I am truly shocked you have never heard of Say's Law. This basic principle, as applied to political theory that you now denigrate, was the basis of "Reaganomics," and what George Bush once called "Voodoo Economics."
Supply side or "voodoo" economics has absolutely nothing to do with your original post re: production.
What Reagan did was to flood the country with money, both with temporary tax cuts and "easy money" through increased money supply. What this accomplished was to put money in people's hands, which of course, burnt a hole through their wallets and they spent a proportion of it.
What he did was to inflate the supply of money. This has absolutely nothing to do with product production. What it did accomplish was to increase the difference between demand and supply for money, and thus resulted in a reduced cost of money, manifested in the lowering of interest rates (for the short term) as no one needed loans anymore. Thus, demand for money decreased, as opposed to your theory, which would surmise that the increased supply would increase the demand.
Keep posting Rocky. Whereas all you can do is fling insults and provide no factual basis for your position, my responses to you are factual, and of course, just make you look like a bigger fool every day (which isn't hard to do).
Oops, was that a thinly-disguised insult? <ggg>
P.S. Sorry, but I have either never heard of Say's Law or have forgotten it. But, if it was that widely accepted by top business schools, I surely would have remembered it as clearly as I remember the laws of demand and supply. |
