Posted on 09/13/2010 6:00:30 PM PDT by Rebam98
Quotes from On ‘Demand Side’ Economics
The average person works and accumulates savings over 40 years in order to retire. From the time they start to the time they finish, assuming only 2% inflation per year, prices will have risen by 221%.
Keynes gets the problem of economics completely backwards. The problem of economics is unlimited demand with limited supply. The implicit argument of Keynes is that the problem of economics is limited demand with unlimited supply.
Politicians want to have their money and spend it too.
Of course, it makes sense for the Federal Reserve to define their purpose as fighting deflation. To that end, they are succeeding!
If it were true that any company purposely encouraged war, it would indeed be an outrageous evil. However, you have these statists openly and proudly advocating that war is good for an economy. The implicit conclusion is that a nation should engage in war—sending young men and women into harm’s way—solely to create a need for government spending and thus an alleged better economy. Who are the war profiteers?
Lift the weight of big government off of our backs and watch us go.
Keynesians and Lefties like to say somberly that the “Problems of Production have been solved. Now we must solve the problem of Distribution.”
Well done.
Thank you!
I remember studying Keynes in college and being forced to make the “unemployment vs inflation” graphs. I *knew* it was wrong but I couldn’t put into words exactly why. I also remember being told “debt is OK as long as it is owed to ourselves.” I also knew that was BS. I was an engineering major and I got the impression that those studying economics were not very mathematically or logically rigorous. It was more of a “humanity” than a “science.”
I think you are right about mathematics, but wrong about logic. I think economic theory is very logical in almost all classes . . . except when they get to monetary policy and government spending. Then suddenly the clarity of microeconomics and logical thinking goes out the window and economics becomes incomprehensible. I suspected either I was stupid or my professor was incompetent when I took a course on monetary policy. Now I realize that it is political and clarity would hurt the agenda.
I took only a macroeconomics class in college so maybe that explains it.
I loved micro . . . so logical. Same with contract law in law school. Contract law makes sense and is logical. The rest of the law is an absolute mess logically.
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