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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (139491)	10/2/2001 7:59:13 AM
From: combjelly	Read Replies (1) of 1580442

"What the hell was Reagan spending all those billions on defense in the mid and late 80's.....especially on the Starwars program? Damn, its galling...all that $$$ wasted just to placate someone's paranoia." You are looking at it wrong. According to Keynsian economics, government spending is more efficient as an economic stimulus than spending in private hands. Yeah, I know that officially Laffer economics was in and Keynsian was out, but when you examine actually policies, you realize that Reagan talked one game, yet practiced another. Reagan pretty consistently did that, as Governor of California he preached local control and would up creating the perfect Welfare State... In short, that spending that you decry was to stimulate the economy. Which it did. Now the money spent did not have as much of an immediate stimulus as the previous model did. Because the money was concentrated in the hands of the affluent, it tended to be invested instead of immediately being spent on low margin goods, as welfare recipients tend to do. As a result, that spending fueled the stock market, as opposed to directly fueling the economy.

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