Keynesian Economics Is Wrong: Bigger Gov't Is Not Stimulus

Cool. Almost everyone responding to this seems to know how dangerous Friedman style economics has proven.
IMHO, only mixed economies have actually worked.

I agree with you. I've been arguing with Austrian Economic advocates for weeks now. They just ignore certain factors of the Keynesian Theory to poke holes in it. Their theory on the other hand, is just unteniable. Anarcho-Capitalism is a complete and utter joke...

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The rich people who can afford to lend will still have money to spend and now so will those with lower income who now have to pay less tax or have more money due to government injections.

Please don't watch this and actually believe what this guy says makes anysense.
Yes there is a redistribution of income not an increase but it's from those who have enough money 'in their pockets' to lend money to the government, so obviously would not lend the money and reduce their own funds to very low levels.
This money then goes to those with less purchasing power as they have more money left with lower taxation or injections and so then will have more money to spend.

I was going to respond to this video, but their understanding of economics, and many of their historical facts, are questionable at best, and openly false at worst. My big question for them would be why WWII correlates with the end of the depression? If WWII ended the Great Depression because of war production and the draft, then Keynesian Economics is proven correct in this instance.

Ah, you think Germans are generally more anti-inerventionist than the brits?

Now I've heard everything....

Agreed....nobodies like Friedman and the Austrian school and this guy calling Keynes a fraud......


thats like me calling Bill Gates a fraud with no business sense

the fed changing the money supply is not keynesian. stop confusing the two.

Stimulus is keynesian and it has reduced the short-run impact of the depression. It may not have reduced the long-run impact under most economic models, but that is part of the point. by keeping the economy moving it does improve the long-term outlook, which isn't currently accounted for in most models

I agree some govt intervention can cause a recession or depression, but this doesn't mean all intervention does.

hoover may have had nothing to do with keynes, but he did employ the type of policies that keynes eventually came to encourage. screw your comment lol

dude we were already in it. where ya been