Is Keynesian an accepted form of Economics?

Created by Poll Taker on Dec 2, 2012

23 votes

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Yes

No.

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jiminy cricket

Saint Marys, GA

#1 Dec 3, 2012
apparently it is...liberals.
bubba131

Fernandina Beach, FL

#2 Dec 4, 2012
No it is not...
If all the variable new investment instruments around old fashioned economic theory no longer applies..
Bluntforce

Twinsburg, OH

#3 Dec 4, 2012
It is when your country is run by communist's and Marxist's.
Viet Vet

Herndon, PA

#4 Dec 4, 2012
Bluntforce wrote:
It is when your country is run by communist's and Marxist's.
But, over 110,000 young American men fought and died in Korea and Viet Nam to make America salf from Communism!!!!

The communist must have done an end run and taken over the country while we were fighting overseas.

Now we are using our fighting men as social workers trying to make friends with tribal people in Afghanistan. The tribes hate our guts. So we arm them and order our good men to serve with them!!

How f..ked up can the leadership at the pentagan get? Counterinsurgency is a stupid idea. the prepie boys running the war planning in Washington clearly have their heads up their arse.
Simplistic dolt

Cumming, GA

#5 Dec 4, 2012
If you are referring to the ideas expressed in "The General Theory of Employment" most reputable economists accept them.

Little known fact about US economic history, all of FDR's stimulus spending was having the intended effect of pulling the economy out of the depression, until '36 when they cut back on spending. Unemployment spiked, GDP plunged, etc. You can look it up.
hayneedle

Kingsland, GA

#6 Dec 5, 2012
Thank you Cumming, GA, an informed intellect! I wonder though if even FDR could succeed under the floating exchange rate (Ponzi scheme) currently in vogue.

“It's comong.”

Since: Nov 12

Location hidden

#7 Dec 5, 2012
Keynes was a British Economist that died in 1946. Keynes was also a civil servant, a director of the British Eugenics Society, a director of the Bank of England, a patron of the arts and an art collector, a part of the Bloomsbury Group of intellectuals, an advisor to several charitable trusts, a writer, a philosopher, a private investor, and a farmer.
Milton Friedman and other monetarists have argued that Keynesian economics can result in stagflation, the combination of low growth and high inflation that developed economies suffered in the early 1970s.
According to economist John Kenneth Galbraith (then a US government official charged with controlling inflation, WW2 era), in the rebound of the economy from wartime spending, "one could not have had a better demonstration of the Keynesian ideas."
I know of no society proving Keynes to have a valid economics philosophy.

“It's comong.”

Since: Nov 12

Location hidden

#8 Dec 5, 2012
Do you believe that the replacement of the welfare system with a guaranteed income will end poverty? That is Cloward and Pivins's philosophy. I do not believe this for several reasons, one being you have to make those on the welfare system work, otherwise it is just welfare and won't work.
Simplistic dolt

Cumming, GA

#9 Dec 6, 2012
Senora de la Iglesia wrote:
I know of no society proving Keynes to have a valid economics philosophy.
Easy peasy. One only has to look at Greece, today. The enforced austerity has caused GDP to decline, decreasing the ability to service the existing debt, causing further cuts in spending, which further reduces the ability to service the debt, increasing civil disturbance...
Simplistic dolt

Cumming, GA

#10 Dec 6, 2012
Senora de la Iglesia wrote:
Do you believe that the replacement of the welfare system with a guaranteed income will end poverty? That is Cloward and Pivins's philosophy. I do not believe this for several reasons, one being you have to make those on the welfare system work, otherwise it is just welfare and won't work.
I had to do some serious googling to understand your reference to Cloward and Pivin. Neither of them were economists, so it's easy to dismiss them.

Trying several variations on spelling, I did turn up this reference to Clovin and Krause. I'll admit to having a serious case of the hots for Ms. Krause.
http://m.youtube.com/#/watch...
Bluntforce

Aurora, OH

#11 Dec 6, 2012
Simplistic dolt wrote:
<quoted text>
Easy peasy. One only has to look at Greece, today. The enforced austerity has caused GDP to decline, decreasing the ability to service the existing debt, causing further cuts in spending, which further reduces the ability to service the debt, increasing civil disturbance...
In what college classroom do your economic theories take place? In the real world, Greece is THE shining example of what NOT to do. Socialism works like a charm, until you run out of other peoples money. Then you're screwed.

“It's comong.”

Since: Nov 12

Location hidden

#12 Dec 6, 2012
Simplistic dolt wrote:
<quoted text>
I had to do some serious googling to understand your reference to Cloward and Pivin. Neither of them were economists, so it's easy to dismiss them.
Trying several variations on spelling, I did turn up this reference to Clovin and Krause. I'll admit to having a serious case of the hots for Ms. Krause.
http://m.youtube.com/#/watch...
Yes you are correct. Cloward and Piven are not economist. They are authors and professors professing the ruination of this government. Should I have left them out of the subject thread?
Simplistic dolt

Cumming, GA

#13 Dec 6, 2012
Bluntforce wrote:
<quoted text>In what college classroom do your economic theories take place? In the real world, Greece is THE shining example of what NOT to do. Socialism works like a charm, until you run out of other peoples money. Then you're screwed.
Forgive me for trying to stay on topic, but I thought we were discussing Keynesian theory. Greece is in a fine pickle right now, in no small part due to accounting fraud facilitated by the Vampire Squid. If they were an independent economy, they could devalue their currency, or even default. As a member of the Euro, neither is an option. It has nothing to do with socialism, although if you remember your history books, Greece did flirt with communism in the late 40's early 50's.
Simplistic dolt

Cumming, GA

#14 Dec 6, 2012
Senora de la Iglesia wrote:
<quoted text>Yes you are correct. Cloward and Piven are not economist. They are authors and professors professing the ruination of this government. Should I have left them out of the subject thread?
In a free debate, you are entitled to include references to whatever sources you wish. If you want to defend the theories of Cloward and Piven, feel free to do so.

“The one and only! ”

Since: Oct 10

St. Marys, GA

#15 Dec 6, 2012
Marion,

How in the hell do you reconcile "According to economist John Kenneth Galbraith (then a US government official charged with controlling inflation, WW2 era), in the rebound of the economy from wartime spending,'one could not have had a better demonstration of the Keynesian ideas' with
"I know of no society proving Keynes to have a valid economics philosophy."

You idiot, the first quote is the quintessential refutation of your last sentence.

“It's comong.”

Since: Nov 12

Location hidden

#16 Dec 6, 2012
Moreno Jay wrote:
Marion,
How in the hell do you reconcile "According to economist John Kenneth Galbraith (then a US government official charged with controlling inflation, WW2 era), in the rebound of the economy from wartime spending,'one could not have had a better demonstration of the Keynesian ideas' with
"I know of no society proving Keynes to have a valid economics philosophy."
You idiot, the first quote is the quintessential refutation of your last sentence.
You Idiot. Figure it out.

“The one and only! ”

Since: Oct 10

St. Marys, GA

#17 Dec 6, 2012
As you well know, I have. I did it immediately upon reading it, idiot.

When I suggested a brain scan some time back, I was totally serious.
Simplistic dolt

Cumming, GA

#18 Dec 6, 2012
Moreno Jay wrote:
As you well know, I have. I did it immediately upon reading it, idiot.
When I suggested a brain scan some time back, I was totally serious.
A bit of constructive criticism, and like all free advice, you should keep it on the books at acquisition cost. The ad hominem remarks weaken your argument. Just say'in.
Simplistic dolt

Cumming, GA

#19 Dec 6, 2012
Senora de la Iglesia wrote:
<quoted text>Yes you are correct. Cloward and Piven are not economist. They are authors and professors professing the ruination of this government. Should I have left them out of the subject thread?
Still waiting on your defense of the theories of Cloward and Piven. You introduced them into this debate.

“The one and only! ”

Since: Oct 10

St. Marys, GA

#20 Dec 6, 2012
Mine is not an argument. It is a statement of fact known to anyone who has taken macro.

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