In Defense of Keynes

Too bad Al Gore didn't win.  I don't think he would have been interested with passing those tax cuts. Especially with 51 votes...

Since Reagan era Supply-Side "trickle-down economics" mostly have dominated your goverments.J.K Galbraith noted that in had been tried before in the United States under the name "horse and sparrow theory" causin great damage.He wrote,"Supply-side economics was merely a cover for the old trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats,some will pass through to the road for the sparrows."

@zsylvana

Yeah, I agree. I am in favor of government intervention, but the intervention has to be done right. Trickle-Down economics is not a form of intervention that works. It failed under Hoover, it failed under Reagan, under Bush the 1st, and under the most recent Bush.

Give me a break. Republicans or incompetent retards, stuck in the 1950's...

@BMoIWU0711

Keep in mind that the Founders wrote the Constitution well before the Industrial Revolution got out of control. There was no such thing as monopolies back then.

agreed...however, in a free market economy there are no monopolies either...monopolies only exist in an economy in which governments place regulations.

@BMoIWU0711

Ugh, no that's not true at all.... Free markets are the driving factor behind monopolies. In unfettered Capitalism, the big fish will eat the little fish until there is one giant Walmart Monopoly that everyone HAS to shop at. Government Regulation is put in place to help slow or prevent that process. Those are laws against Conglomeration, Attrition Warfare, etc. Without those laws, the economy would be run even more by the powerful corporations, than it already is.

This is an interesting comment. Please enlighten everyone with details explaining your "inerrant" facts on this matter.

Your description doesn't make sense... Free markets haven't been used since the 19-teens... so how could you say that if they were right there would have been no use for keynes, if they predicted that the Depression would happen when the government did what it did. How does keynes account for the 70's?? Its a direct contradiction to the predictions of keynes!