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|Subject: Re: So, how about that||Date: 9/9/2011 12:46 AM|
|Author: willisworn||Number: 1984 of 2003|
Okay. But as a thought experiment let's assume it is possible for the Keynesian Theory to be incorrect. What percentage would have to be spent on infrastructure for you to say it was tried and failed? Why didn't the Keynesians in the administration get it right?
Most or all of it, whatever was lost in the recession. And, there was nothing close to that even attempted.
Keynesians advocate tax cuts, too, so I'm not entirely sure why you want the debate to drift toward the inadequacy of infrastructure spending. Seems slightly akin to data-mining...
No, my point was that it's unfair to call Keynes out on this, when we've been operating under a Friedman economy since Paul Volcker.
And, Keynes would not have approved of tax cuts in a boom. Tax cuts come during the recession. The revenue generated during the boom is spent to offset the aggregate loss in demand.
And, how much of the Obama deficit spending was on the wars he didn't start?
Where was Naj when Bush was doubling spending and cutting taxes?
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