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Originally Posted by Lordblood
You say it as if that is it. Sorry Brucelee, but Keynes didn't base his economics on BS or a conservative agenda. There is real research behind it, and to dismiss it is honestly an insult to economics as a field.
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Given that I teach Economics and Finance, that would be a mistake on my part, no?
Actually, Keynes initial work has some merit as far as it went. Subsequent observations and of course, the misuse of his THEORIES, have called most of his assumptions and conclusions into dispute among reputable economists.
I think the US' recent experience with Stimulus and such will put the final nail in the coffin except for of course, the true believers.
The question isn't really whether the government can contribute to aggregate demand in the short run (it can given the method). Rather, the issue is whether this is the best way (among alternatives) for the government to act.
That I think, is very much in question.
My last comment is to the "economics as a field." In truth, economics is not a science as traditionally defined. It is much more a bunch of theories about aggregate human behavior with money as a signal.
One can prove almost nothing in economics. That is why it is so much fun to teach.
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