Keynesian Economics 101 (In 4 'Simple' Lessons)
Since Keynesian economics has reined supreme among mainstream economists for decades, you might want to know some of the basics.
If this is confusing to you though, don’t worry about it! There are people in charge who have it all under control.
(39 votes)
»
- Login or register to post comments
- Printer-friendly version
- Send to friend
- advertisements -
yes
What has Keynes said to do, if the opportunity to save during good times had been missed and bad times arrived?
Eat yourself to death ala Canadian style, eh?
That's right, he said that. But the thing is that people/countries don't save when things go well. It requires discipline to do so and it is considered bad for the economy not to spend when you have the money. That is why debts spiral out of control. As long as central banks magically get money from thin air and insert that into the money system/economy there will be debt. Debt is the money with which we keep our econmies going. And that will continue as long as dollar is king and until we exploited all the resources of this planet.
Those are the reasons. They are taught in economics classes at all major universities across the globe. Kids pay tens of thousands of daolls per year to learn that shit, none of which is true.
Algo me this Keynesman?
What a fiendish riddle, Batman.
To the Batcomputer, Robin!
Common core:
1 + 1 = racism
Someone should put that on a t-shirt! Holy shit I LOL!!!
My kids are learning about that right now and I'll be damned if it isn't the most back-assward way of doing something easy but adding 5 extra steps (boxes) and inserting addition and subtraction into the middle of the equation that doesn't need it. And a number line.
Best comment I've read all day.
I almost blew liquid out of my nose. Thanks for that.
I'll play:
2 + 2 = patriarchy
the term/word "keynesian" is stupid for stupid people
r
https://enronnext101.wordpress.com/
THIS is how markets really work - i have a good/popular track record
A Progressive National Socialist Keynesian is asked what hand does he wipe his ass with... he replies with his right hand..... An Austrian economist is asked the same question and replies...... I don't, I use toilet paper.
LOL!.......Not the ones in Venezuela.......
Only those who are severely infected don't recognize the sickness.
Once you become sick, you are terminal.
Usually.
I've been saying this all along.. everyone measures the health of all countries by there GDP.. but GDP is meaningless, so why does anyone care about GDP??
Indoctrination. I've always focused on profit. Gross doesn't mean anything except that CEOs chasing it fuck up a lot of companies.
John Maynard Keynes may you rot in hell!
Your economic PhD zombies have created a real hell for the 99% when it all blows up.
In the long run we're all dead, so let someone else pick up the tab.
Preferably your children. Leave mine the fuck alone!
War is Peace
Ignorance is strength
Slavery is Freedom
keynes actually made some good points as an observational(pre algo economics) theorist(paper theory). the problem is only the beneficial to the body politic/banker stuff has been revealed, the deficit spending on infrastructure. actual money printing came from friedman's monetary theories. the rest of the post actually has nothing to do with keynes technically.
Pine over numerator.
Ignore denominator.
That's capitalism.
'
'
'
'
Frankly, the Austrians have done a piss-poor job of telling the world in the last several decades, what they're about, what the Keynesians are about, as anyone, any common man who gets the basics of Keynesian economics, just stares at it, dumbfounded, wondering WTF are they thinking.
"Lower prices are worse for me?"
•?•
V-V
No, the Austrians have done a poor job of controlling the mainstream media.......
Its kinda hard to gain traction in peoples minds when they are constantly told that your ideas are insane by the government mouthpiece, and if you listen your government subsistence check will be cut....
But, the internet has made inroads on the propaganda state......At least, until the government takes over the internet.....
Not what Keynes said. More like; what Ayn Rand said Keynes said.
I call it the Carrot on the stick economics. Work harder.. save..get diminishing returns..rinse.. repeat..die.
And the carrot is a GMO product. It probably contains gene-tailored enzymes to kill you off sooner so you can't collect (a rapidly receding) retirement.
You have it all wrong......
lesson one....government longevity and growth is the only concern, and printing money keeps it growing and healthy.....
Lesson two....proof in the pudding of lesson one, is that the Washington D.C. metro area is the only healthy economy in the country....
Lesson three....If economic growth is such a priority, then why does increasing government taxes and regulation grow despite evidence of its destructive effect?.....(Answer....see first half of lesson one)....
Lesson four....As long as government money printing devalues the wages of citizens, and profits of corporations, then the resulting dependance on government crumbs from the masters table continues the longevity and growth of government.....
<-- Lesson # 666 : All bow down & worship the devil
Allow me to translate:
Slide 1 = Feel Rich (Get-Rich-Quick) Effect of being the first in line in the creation fiat currency (E.g. Prime Dealers)
Slide 2 = It’s all about the VOM (Velocity of Money) and the Wheel of Fortune spinning round and round
Slide 3 = FRB (Fractional Reserve Banking) + Interest of fiat currencies inherently demand that the Money Supply (Debt size) keeps growing. The cancer must be fed.
Slide 4 = Slide 3 on steroids, reaching "Maximum Pumptitude". The CBs are here to "Pump you up!"
What do I win Tyler?
1 Every bit of new issue dilutes the buying power of all the coin in the economy. Any gains will be had by those that get to spend this unearned income. No gains ever get to main street Imagine just trying to raise your prices to match inflation. The guy across the street gets the work because he did not and both of you lose.
2 Savings are a good thing and the best way to start a new venture. Credit on the other hand screws everything simply because its almost never prudent. Wrecklessly pulling forward demand only hurts everyone long term.
3 This one goes against the natural progress of most everything. As we get better at making things we make them higher in quality and cheaper at the same time. In a normal system. In this system the improvments end up in more skim. That skimming is now the only part that matters quality is of no concern. In a real free market. This BS would not last out a year.imo
4 The broken window theory. Its your window they want to break over and over again. They are simply planning on selling windows to you.
Thanks Andy.
Item #3 ticks a short stupid story.
The first MG clutch I replaced took me weeks, ordering (pre internet) and installing.
The second took me a full day, I had parts pre positioned and a familiarity with the process and tooling.
The third took me hours.
I only kick myself lightly for not carrying inventory for the most recent fourth, the old prices look very inexpensive now. The carrying cost of that inventory would have put it beyond the new purchase price by a wide mile, yet I would have had it on hand.
This is only for my personal pleasure on my old car, yet I like to track the cost of ownership over the years and know that I will only recoup the costs if I add in the non tangible pride of ownership.
Yep back in the day. When I still did VWs the rabbit/Jetta mk1 clutch jobs were the same deal. At first it was a 3 hour job. Kind of a pain. After doing too many to count. 45 min and it was cake for me. The best part was I kept all the proffits of me being better at it. Me and a friend did them in as little as 20 min. I never changed my price just my proffit margine by being better. Over the years other shop owners would be pissed off and give me shit because they could not compete with my price. I had better tools,a better set up, way more practice and always callenged myself to do even better. They were not doing any of those things.
It's strange how socialism is blamed for our problems. Our problem is fascism. Socialism doesn't exist in 'Merica.
Any fool can look at a GAO report and see it. Fascism is the problem. There is no orgy of social spending anywhere. Social spending has been contracting for over 30 years so you knuckleheads should be cheering in the streets. Banks are stealing from you and instead you're looking for socialists under your bed!?! WTF!?!
We're SMART and we KNOW what to DO! - Neocon Economics....
We don't have Keynesian economics in 'Murica. We have something else, very, very different more appropriately named Banksterism. The most accurate summary of our current economic policy and central banking practice is to CUT social spending (not increase it which would be Keynesian) to 'compensate' for enormous INCREASES in stimulus spending which all goes into assets prices (stocks, real estate etc.), enormous increases in public debt that inflate assets with no increase in the money supply! It's deflation and austerity for the bottom 99%. A huge put option on the public to support the fantasy asset valuations. Keynesian economics does not at all describe this current practice. Keynes is a strawman. You want something that works? Try supply side economics as practiced under Paul Craig Roberts. But that said, no economic system will work with criminal banksters at the top and in power. Name any system and the banksters will destroy it in a week.
Well, you've named it.
But now you need to define it.
How is it different from Keynesian?
"Banksterism" just looks like a mechanism to implement Keynesian policy.
Sure consuming on credit and not saving boosts the economy - unfortunately it is borrowed from the future and someone will have to pay and it will not be the ones who are in power.