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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (438515)	12/5/2008 2:36:39 PM
From: brushwud	Respond to of 1575596

The bailout is all for the unions. The fear is that no bailout would lead to massive unemployment and therefore a depression. That was certainly the fear when Paulson, McCain, Obama, Clinton, and the rest of the government decided to bail out the financial sector a few months ago. Then Nancy Pelosi decided the auto industry deserved it, too. In that sense, the bailout is more support than stimulation. I'm not sure if this really is Keynesian or even neo-Keynesian, but it seems the Keynesian economists today are more for this bailout than against. Whom do you have in mind who is an economist and not a Keynesian? To say "Keynesian economist" is like saying "Newtonian physicist". Here's Milton Friedman in 1988 on Keynes: "We are all Keynesians now; no one is any longer a Keynesian." geocities.com