Lord John Maynard Keynes

This is not a biography of Lord John Maynard Keynes. Rather, it is an attempt to correct some misimpressions of Keynes stemming from my YouTube video entitled: "Economics 102 - Keynes v Friedman." It is also meant to address some mean spirited ugly accusations by Friedman groupies.

Category:

News & Politics

Tags:

• economics
• keynes
• friedman
• commentary
• analysis

[TheSpanishJob]

When you 'inject' money into the system, for example expanding the money supply or by goberment spending (yes, this injects money into the system), you introduce market distortions. Those who invest in new projects think that these are profitable when this profit was only inflation. Prices were lying.

When you borrow from the outside, later you'll have to pay... and that's with taxes (that will kill your beloved private spending).

Btw, Keynes is the excuse for government thieves.

[radiohogan]

@TheSpanishJob

Do you understand deflation?

[radiohogan]

@TheSpanishJob

We disagree.

[TheSpanishJob]

@radiohogan Of course you disagree but i'm spanish and i'm living it. A few years ago we had lot's of money injected by the goverment and by the ecb. People started business because the demand was very high, now the ecb and the government stopped injecting money and these business that these people started when they were profittable crashed. They cannot pay their credits, loans, and they are closing with tons of people unemployed. The thing is, do you think the ecb can expand the money forever?

[radiohogan]

@TheSpanishJob

There are several ways the money for expenditures could be found and I am surprised your pseudo socialist government hasn't taken the following steps: 1. Institute a progressive income tax, 2. disband the military and spend the war money on aggregate demand, 3. a tax on financial transactions (a Tobin Tax).

[rumco]

Of course they disagree, the do not like to see high inflation numbers so they skew them as they see fit.

Many economists, especially Austrian School economists argue that inflation is expanding of the money supply, the rise in prices is the side effect of it.

[thefredsays]

My god someone making sense and obviously not funded by outside money. Not a cultural manipulator.

[thefredsays]

My god someone making sense and obviously not funded by conservative money.

[thefredsays]

thank god for some truth... howard zinn...

[Bakkermman]

"1. Institute a progressive income tax,"-income tax is against human rights.And You should know that it was introduced by fed bankers to pay interest on their loans to government.So lets try not toLIE,thata government is an answer to anything. Furthermore there isNO LAW that obligates Americans to pay income tax.Going even further anyone who says that goverment is the answer to our problems,is probably getting money form it.Lincoln,Garfield,Kennedy andJackson knew something aboutYour teories....

[parnellitube]

A government's tendancy is always to become bigger and more powerful. The "periods of increased spending" is their opportunity to do so.

Yes, government intervention always ends up on the behalf of large corporations. That's why governments should stay out of economics.

The very rich don't put money in the bank. They invest it. The poor do spend free money, right up until it's gone.

[radiohogan]

@bonfirejovi

Do you understand deflation?