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Topic: Obama Experience Highlights
Failure Of Keynesian Gov´t
Intervention In Economy |
Obama Experience Highlights
Failure Of Keynesian Gov´t
Intervention In Economy
Investors Business Daily, by J.T. Young
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Original Article
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Posted By:Desert Fox, 1/7/2013 7:23:58 PM
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| The last four years eloquently indict the efficacy of government economic intervention. While long-term intervention has long been dismissed as ineffective, many still cling to a Keynesian hope that government intervention of limited duration could succeed. Now the effectiveness of both short-term and long-term economic intervention seems questionable. Put simply: The last four years have cost an incredible amount, while returning very little ... beyond debt. Federal spending has exploded, deficits have skyrocketed, the government´s debt has doubled, but the economy remains stagnant.
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Reply 1 - Posted by:
Nevadadad46, 1/7/2013 7:53:00 PM (No. 9103906)
Clearly, the author, JT Young, does not understand the reality of what drives Øbama. From the Øbama point of view, Keynesian Gvt is working quite nicely. Everything right on schedule. The US should be completely destroyed within the next two years and he can then rule over an economic wasteland of misfits, foreigners and obedient oatmeal eaters. Everyone has known since the Wiemar Republic that Keynes was a scam artist- his ideas were just a way to allow banks to raid the public treasuries. It ruined Britain, and drove Germany into Hitler´s arms.
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Reply 2 - Posted by:
uno, 1/7/2013 8:21:06 PM (No. 9103941)
Keynesian intervention only works when your economy is below a -30 on the Bozo scale.
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Reply 3 - Posted by:
hamrman, 1/7/2013 8:21:51 PM (No. 9103944)
Yep, he is now the poster boy...get outta my way GW Bush...
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Reply 4 - Posted by:
seamusm, 1/7/2013 8:27:22 PM (No. 9103952)
Bet ya get an argument from Krugman about that. It astounds me how arguments as in this article are so thoroughly discounted by people even ostensibly very knowledgeable folks. ´Don´t confuse me with the facts, my minds made up...´
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Reply 5 - Posted by:
philemon1967, 1/7/2013 8:48:15 PM (No. 9103974)
Keynesian economic theories work... but only if humans were angels - self-destructively altruistic or demons - if those in power could just keep killing rich people and grabbing their accrued wealth, but even then you would run out of productive people to rob.
The problem with liberal economic thinking is that they either think that the rich will not change their economic behavior because they are stupid, altruistic or can be compelled to act against their self-interests through governmental coercive powers. But then again, liberals are known for their emotionally based wishful thinking so as long as they have good intentions, they do not have to pay any attention to reality.
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Reply 6 - Posted by:
eorsc, 1/7/2013 9:11:51 PM (No. 9104002)
I´m betting all the kick-backs have filled all Obama´s pockets. If he doesn´t get to be dictator for life he will at least take the bank with him when he leaves.
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Reply 7 - Posted by:
veritas, 1/7/2013 9:22:10 PM (No. 9104015)
Stop the presses! Is this the first instance of Keynsianism not producing Utopia?
#1: Bingo.
#5: Yeah, the zero-sum fallacy. Ask Hollande, Depardieu, and Putin if zero-sum works.
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Reply 8 - Posted by:
veritas, 1/7/2013 9:34:26 PM (No. 9104034)
Also [not original, but very sharp observation] -- people who say we can´t afford doctors, hospitals, and medical care think we can afford doctors, hospitals, and medical care, plus a gov´t bureaucracy to run all of it.
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Reply 9 - Posted by:
beancounter, 1/7/2013 9:45:52 PM (No. 9104054)
When I majored in Economics 30 years ago the consensus was that Keynesian stimulus policy worked in the short run, but had a negative effect in the long run.
Now, after 4 years, the short term effects are gone and now we´re just stuck with the negative effects.
As far as I know nothing has disputed in the last 30 years.
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