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Politics : Formerly About Advanced Micro Devices

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To: Joe Btfsplk who wrote (740130)	9/17/2013 11:15:47 PM
From: bentway	Read Replies (4) of 1572510

Keynes wasn't a socialist. He just knew that the excesses of capitalism could be just as bad or worse. He believed in regulated capitalism, as I do. en.wikipedia.org "Keynes's influence waned in the 1970s, partly as a result of problems that began to afflict the Anglo-American economies from the start of the decade, and partly because of critiques from Milton Friedman and other economists who were pessimistic about the ability of governments to regulate the business cycle with fiscal policy. [8] However, the advent of the global financial crisis in 2007 caused a resurgence in Keynesian thought. Keynesian economics provided the theoretical underpinning for economic policies undertaken in response to the crisis by President George W. Bush of the United States, Prime Minister Gordon Brown of the United Kingdom, and other heads of governments. [9]" Because "free market", self-regulating economics HAD no prescription! The near-collapse of the economy was supposed to be impossible! Alan Greenspan was dumbfounded: nytimes.com

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