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Politics : President Barack Obama
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To: RetiredNow who wrote (114443)5/31/2012 12:03:07 PM
From: tejek  Read Replies (1) of 149317
 
Keynesianism is largely a fiscal policy that targets spending and floods the economy with government spending to offset economic weakness. The approach in the article I posted is a monetary policy that targets nominal income, which is a better measure of economic health than spending. Rising income creates sustainable economic recoveries. Rising spending sometimes precipitates collapse and financial crises when it is achieved through unsustainable debt levels. That's why this country's obsession with GDP is inherently unhealthy.

The approach you targeted encourages the growth of income so that spending will increase and thereby, encourage economic recovery. That's keynesian.
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