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

To: i-node who wrote (946064)	7/9/2016 6:59:54 PM
From: combjelly	Respond to of 1575399

But if you have production demand will follow Nonsense. There are plenty of products that never find a market. Some are even spectacular flops. Clearly, you have no background in economics. Says the man who apparently doesn't live in the real world. If you think Friedman believed in stimulus spending, perhaps you should read his book, Capitalism and Freedom, in which totally DESTROYED Keynes, from top to bottom. Maybe he destroyed Keynes. But, out in the real world, Keynes policies gets results, Friedman's results in failure. Because that is the test of any economic theory, does it actually work. Now Friedman's theories can work in the short term, but those theories results in unstable markets with boom and spectacular bust cycles. And this happens every single time they are tried. They also wind up with inadequate investment in infrastructure because of the low tax regime. It is difficult for an advanced economy to function with a crumbling infrastructure and investments for the future. And yeah, I am familiar with Friedman's Permanent Income Hypothesis. I will grant you that it addressed some things that Keynes' theories cannot. But it otherwise is not an adequate model. However, he at least recognizes consumption as an important aspect of the economy. Something you deny. Perhaps you don't understand it as well as you think you do.