How "Trickle-Down" Really Works

Discussion in 'Economics & Trade' started by Cigar, Nov 27, 2017.

  1. Thought Criminal

    Thought Criminal Well-Known Member Donor

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    Pointless and misleading point.

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  2. Reiver

    Reiver Well-Known Member

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    Sorry, but this is an ignorant comment. Neo-Keynesianism versus Monetarism was a false debate over fiscal and monetary policy. It involved an analysis which had naff all to do with Keynes (who was much more focused on economic psychology and the failure of market self-correcting mechanisms). Friedman's analysis wasn't particularly high powered. It involved application of adaptive expectations to pretend that a vertical Phillips Curve would eventually occur. Golly gosh!

    I again note that you hide: Can you reject the supplementary economic analysis into issues such as hysteresis in unemployment (where demand management is crucial to avoid destruction of human capital)?
     
    Last edited: Dec 14, 2017
  3. james M

    james M Banned

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    Wrong of course, Keynes was all about creating artificial demand or bubbles which Friedman 100% rejuected; Here is keynes: "But preference should be given to those which can be made to mature quickly on a large scale, as for example the rehabilitation of the physical condition of the railroads… You can at least feel sure that the country will be better enriched by such projects than by the involuntary idleness of millions."
     
  4. james M

    james M Banned

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    do you mean demand management by libcommie govt or the Republican free market?
     
  5. Reiver

    Reiver Well-Known Member

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    "The object is to start the ball rolling". Keynes was proved right. Roosevelt ignored what became known as 'Keynesianism' and failed to adequately boost the economy.

    Your understanding of Friedman is pitiful. He's the grandfather of monetarism. A dead end.

    Can you compare that with Keynes? Of course not. His output continues to influence innovation in our understanding. Remember what I've said several times now and you have hid: Can you reject the supplementary economic analysis into issues such as hysteresis in unemployment (where demand management is crucial to avoid destruction of human capital)? Please don't think cretinous made up terms will suffice as a response!
     
    Last edited: Dec 14, 2017
  6. james M

    james M Banned

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    Do you understand difference between real Republican free market demand and libcommie make-work bubble demand?
     
  7. james M

    james M Banned

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    wrong, Keynes was for federal railroad spending to stimulate economy while Friedman was opposed to artificial demand stimulation.
     
  8. Reiver

    Reiver Well-Known Member

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    You have made up cretinous definitions that have no relevance to economics. That you think that is an effective strategy is a just a little childish!
     
  9. Reiver

    Reiver Well-Known Member

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    Again with your ignorance. Friedman's relevance to Keynes is pitiful. His output was purely on the IS/LM and Phillips Curve fake debate. He took a bastardised version of Keynesianism and made theoretical comments based on money illusion. When monetarism was applied (i.e. Thatcherism and the early 80s), it was a spectacular failure.
     
  10. james M

    james M Banned

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    ???Friedman was greatest economist in history and he was 100% opposed to make-work jobs and for free market jobs. Do you understand?
     
  11. james M

    james M Banned

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    Friedman was for freedom and Keynes was for govt. You have learned this many times before:



    As Communist Party General Secretary William Z. Foster commented, "The Nazi fascists were especially enthusiastic supporters of Keynes."[65] Former Trotskyite[66] Dobbs recounted that Harvard economist Joseph Schumpeter observed that in Nazi Germany, "A work like Keynes’ General Theory could have appeared unmolested—and did." In the introduction to the 1936 German edition of his treatise, Keynes himself suggested that the total state that the National Socialists were then building was perfectly suited for the implementation of his investment schemes:


    “ The theory of aggregate production that is the goal of the following book can be much more easily applied to the conditions of a totalitarian state than the theory of production and distribution of a given output turned out under the conditions of free competition and a considerable degree of laissez-faire.
     
  12. Reiver

    Reiver Well-Known Member

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    I love the fanatic behaviour! Shame you can't actually refer to any of his output. I can. Via his Thatcher influence, he managed to destroy our economy
     
  13. james M

    james M Banned

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    ????Keynes: "But preference should be given to those which can be made to mature quickly on a large scale, as for example the rehabilitation of the physical condition of the railroads. The object is to start the ball rolling. The United States is ready to roll towards prosperity, if a good hard shove can be given in the next six months."
     
  14. Reiver

    Reiver Well-Known Member

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    Wrong again. Keynes was for enabling capitalism to flourish. Friedman was just an ideologue who came out with something that even right wingers despise (see the new classicals and their rejection of his money illusion output)
     
  15. Reiver

    Reiver Well-Known Member

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    "The object is to start the ball rolling". Roosevelt's conservatism proved him right!
     
    Last edited: Dec 14, 2017
  16. james M

    james M Banned

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    Ever heard of East/West Germany? Guess which did better freedom or govt??
     
  17. james M

    james M Banned

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    FDR is known as greatest liberal in American history. He proposed and implemented 10001 govt solutions that t kept the depression going for 16 years and got 60 million killed in WW2
     
  18. Reiver

    Reiver Well-Known Member

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    Naff all to do with Friedman. Also note that Germany has strong collective bargaining and has utilised industrial policy inconsistent with neo-liberalism. You're struggling somewhat aren't you?
     
  19. Reiver

    Reiver Well-Known Member

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    Roosevelt rejected Keynesianism. I'm not surprised that you don't know your own history
     
  20. james M

    james M Banned

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    sure it does he virtually invented freedom much like what they deployed in West Germany. Do you know why West Germany did better?
     
  21. james M

    james M Banned

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    FDR was greatest libcommie president in US history and greatest hero to modern liberals!! Sorry to rock your world!
     
  22. Reiver

    Reiver Well-Known Member

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    This is rant. Roosevelt rejected Keynes' output. That is historical fact.
     
  23. Reiver

    Reiver Well-Known Member

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    I laughed out loud at this comment! Cheers. The naivety is spectacular
     
    Last edited: Dec 14, 2017
  24. james M

    james M Banned

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    of course it is!!!!

    The Congressional Budget Office has produced a spreadsheet of revenues and spending, which shows that government spending skyrocketed on Roosevelt’s watch. In fact government spending in real dollars had already shot up by nearly 50 percent between the start of the Depression and Roosevelt’s first year in office, as Congress and the Herbert Hoover administration took the unprecedented step of trying to spend the country out of its troubles with taxpayers’ money. Then Roosevelt, the supposed “fiscal conservative,” increased spending from $4.2 Billion to $8.2 Billion in just three years, bringing 1936 spending to a level more than two-and-a-half times what it had been in 1929.

    The spending cuts between 1936 and 1937, which our textbook authors blame for prolonging the depression, still left government spending at a level nearly two-and-a-half times the pre-depression level.

    By 1941, the year before the United States entered World War II, the government spent $13.653 Billion; about triple the spending Roosevelt had inherited from Hoover, and more than four times the level of government spending before the start of the Great Depression.
     
  25. james M

    james M Banned

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    ever heard of Cuba/Florida? Guess which does better?
     

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