Would It Be Bad for the Economy If Oil Fell to $3 a Barrel? (1 Viewer)

[cstu]

KEYNESIAN MERCANTIISM

Unfortunately, Keynesianism is a form of mercantilism. Keynesianism teaches that what creates wealth is investing, especially investing by governments that are running deficits. Keynesianism believes that it is important that investing continue, whether or not the output of the investments are profitable. Keynesianism believes that government deficits and low interest rates pushed lower by central banks, when combined, will produce employment.

Complete misrepresentation of Keynesian economics. Deficit spending is a temporary crutch for the economy that it meant to be paid back when the economy produces a surplus.

Deficit spending is temporary? Are you Paul Krugman?

http://thf_media.s3.amazonaws.com/infographics/2012/10/SR-fed-spending-numbers-2012-p4-chart-4_HIGHRES.jpg

Gary North has forgotten more about economics than you'll ever know.

You're confusing Keynesian practice with Keynesian theory.

 

[Doug B]

He's written very large, very bigoted paragraphs about Keynes's homosexuality. You really should read up on this guy before you try to speak for him.

I'm not interested in that issue. What consenting adults do in the bedroom is no concern of mine.

And I don't speak for him, only about him.

This is an unsaid tangent:

Can North's economics ideas stand or fall on their own? Or do North's other statements/beliefs cast doubt on everything he expresses?

 

[Jack White]

KEYNESIAN MERCANTIISM

Unfortunately, Keynesianism is a form of mercantilism. Keynesianism teaches that what creates wealth is investing, especially investing by governments that are running deficits. Keynesianism believes that it is important that investing continue, whether or not the output of the investments are profitable. Keynesianism believes that government deficits and low interest rates pushed lower by central banks, when combined, will produce employment.

Complete misrepresentation of Keynesian economics. Deficit spending is a temporary crutch for the economy that it meant to be paid back when the economy produces a surplus.

Deficit spending is temporary? Are you Paul Krugman?

http://thf_media.s3.amazonaws.com/infographics/2012/10/SR-fed-spending-numbers-2012-p4-chart-4_HIGHRES.jpg

Gary North has forgotten more about economics than you'll ever know.

You're confusing Keynesian practice with Keynesian theory.

I'm not confused. Whether in theory or practice, it's all destructive nonsense.

 

[pantagrapher]

KEYNESIAN MERCANTIISM

Unfortunately, Keynesianism is a form of mercantilism. Keynesianism teaches that what creates wealth is investing, especially investing by governments that are running deficits. Keynesianism believes that it is important that investing continue, whether or not the output of the investments are profitable. Keynesianism believes that government deficits and low interest rates pushed lower by central banks, when combined, will produce employment.

Complete misrepresentation of Keynesian economics. Deficit spending is a temporary crutch for the economy that it meant to be paid back when the economy produces a surplus.

Deficit spending is temporary? Are you Paul Krugman?

http://thf_media.s3.amazonaws.com/infographics/2012/10/SR-fed-spending-numbers-2012-p4-chart-4_HIGHRES.jpg

Gary North has forgotten more about economics than you'll ever know.

You're confusing Keynesian practice with Keynesian theory.

I'm not confused. Whether in theory or practice, it's all destructive nonsense.

Or so you've been told.

 

[Jayrod]

Good or bad, Keynesian economics have been used in our country to get us where we are today.