The trend in this current recession seams to be to apply a Keynesian form of governance like the initial bailout, big three bailout and the Conservative’s plan to go into deficit to “save the economy”, these are tragic occurrences. I believe that most democratic governments would not make the mistake of assuming Keynesian worked, but are forced into following its path by misinformed voters who demand some sort of action. The fact is Keynesian does not help the economy. FDR a Keynesian applied this theory to the Great Depression through various government programs and it did nothing, some economists say it even went so far as to extend the Great Depression. For people who truly believe that more government spending will help watch this video, it may change your mind (people who agree with me watch it just because it's a good video).
Governator
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1 comment:
That guy has an annoying voice and a mole.
I will admit that he knows his economics though. Now you should find a video promoting Keynsianism to show a balanced perspective.
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