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

To: puborectalis who wrote (651047)4/11/2012 9:40:59 PM
From: Tenchusatsu2 Recommendations  Read Replies (3) | Respond to of 1579739
 
Pub, do you realize why Keynesian economics fell out of favor in the 1970's?

It's because the concept of stagflation was complete foreign to the Keynesians. How could you have inflation during a period of economic contraction.

The answer, of course, was that bad policy, especially during the Carter years, really screwed everything up. It took the tides of conservatism, which were ushered in by the Reagan revolution, to bring America back to prosperity. And this lasted for decades, even during the Clinton years, even during the George W. Bush years when we were fighting two wars.

Tenchusatsu



To: puborectalis who wrote (651047)4/11/2012 10:40:25 PM
From: i-node1 Recommendation  Respond to of 1579739
 
>>>. The economist John Kenneth Galbraith noted that "trickle-down economics" had been tried before in the United States in the 1890s under the name "horse and sparrow theory."

You're referring, not to THE Galbraith, but to his descendent who is a liberal nut job. His fundamental premise is that of the "managed" economy.

If you want to talk about something that doesn't work and never has, there's your topic.


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