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Politics : Moderate Forum -- Ignore unavailable to you. Want to Upgrade?

To: bacchus_ii who wrote (19823)	10/6/2005 4:41:57 PM
From: Bucky Katt	Respond to of 20773

It's just another abstract concept, being ink on paper and digital entries on central bank books. Remember these famous words? "We are all keynesians now" _____________________________________ Like it or not, John Maynard Keynes will go down as one of the 20th century's most powerful economists. His 1936 classic, The General Theory of Employment, Interest and Money, popularized fiscal fine-tuning -- the notion that more government spending, less taxation or some combination of the two will cause an economy to accelerate by a multiple of the stimulus. And that a fiscal contraction will slow things down. A touch on the fiscal tiller is supposedly all that is needed to adjust demand so that it just matches an economy's capacity to produce. It was a neat theory, and it captivated two generations of economists, especially those who rather liked the idea of a strong central government. Even Richard Nixon, who claimed not to be a fan of big government, was moved to say, "We are all Keynesians now."

To: bacchus_ii who wrote (19823)	10/6/2005 4:43:31 PM
From: Sun Tzu	Read Replies (1) \| Respond to of 20773

Yes and no. How self sufficient do you think USA is? As I walk through the mall and the supermarket, I am hard pressed to find much with "Made in USA" tag on them. If in 10 years US decides to just print money to pay off its debt, the falling dollar will make 1930s look like a party...but I don't see an easy way out.