Making Fun of Keynesian Economics

Townhall.com ^ | March 10, 2014 | Daniel J. Mitchell

[Kaslin]

It

[DManA]

Dumping massive amounts of cash into the economy on a permanent basis is not Keynesian economics. It is insanity.

[Impy]

>>>>It’s sometimes difficult to make fun of Keynesian economics>>>>

In the same way it's difficult to make fun of the holocaust and babies drowning in swimming pools.

[Iron Munro]

[Maceman]

And let's not forget the hip-hop version.

"Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem

[cripplecreek]

Lots of FReepers turn to Keynesian Economics to explain why NYC isn’t in trouble despite $120 billion in debt. They say “NY has taxpayers” but the problem is that the debt continues to grow and the piper will need to be paid at some point. The cost of those debts will begin to fall on the taxpayers and the taxpayers will flee.

The election of a marxist mayor has accelerated the process.

[stremba]

I don’t recall that we’ve ever really actually tried Keynsian economics. Sure, we’ve done HALF of it, namely increased deficit spending during economic downturns. However, the other half of the Keynsian formula is to reduce government spending and run surpluses during the upturns in the economic cycle. It seems our politicians who promote the Keynsian view conveniently ignore that part of it.

Not that it would matter much anyway. It’s best for the government to just lower taxes, lower spending and run balanced budgets all the time. Let the market resolve the booms and busts as it invariably does.

[Paladin2]

We have Kenyanesian Economics.

[Da Bilge Troll]

I filled up my swimming pool by pumping water from one end to the other!

[Ramius]

However, the other half of the Keynsian formula is to reduce government spending and run surpluses during the upturns in the economic cycle. It seems our politicians who promote the Keynsian view conveniently ignore that part of it.

That's actually right. I'm no defender of J.M. Keynes, but that's the part that's always forgotten. Keynes more than anything else was just trying to smooth the peaks and valleys that happen in the business cycle. You save during boom times to spend it back out during the bust times. Somehow the "saving" part never got out. Instead they spend during the boom times and then even more during the bust times. Stupid liberals can't even get Keynesianism right.

[4Liberty]

Why should the GOVT accumulate these happy "surpluses" during the good times? Just let each citizen hold his or her own savings nest egg, and utilize it to re-tool skills and business when the economy dips and changes. What a complete scam the Keynesian macro-Marxist model is! (Yes I'm an 'student' of Mises, Hayek and the Austrian School.)

[AlanGreenSpam]

Say, did you hear that this winter it’s been so COLD in the Midwest & East Coast that DEMOCRATS have been sighted with their hands in their OWN POCKETS?!!

LOL!