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Xelkelvos posted:It probably also doesn't help that I know nothing about Keynesian economics other than it's based around demand. It was engineering student talking to engineering student so neither of us likely knew all that much beside the broader points on our respective sides. His arguments were largely the broad Libertarian talking points about how regulation caused the two most recent crashes due to over regulation and so forth and I basically conceded since I didn't know much myself. If anyone is blaming the financial crisis of 2008-2009 on over-regulation they are straight up ideologues. The financial crisis was more complex that most people with an agenda want to admit, but a big component of it was the way that assets were being carried on the balance sheets of large financial institutions. Keynesian economics is demand oriented and views government intervention (in the form of both monetary and fiscal policy) is necessary to stabilize the business cycle. Read Krugman. It's observably true. Look at the fed's response to the crisis (the government also had a muted fiscal response, but the fed's was far more dramatic) pumping $4.5 trillion into the economy in six years along with ZIRP returned the American economy to growth in pretty dramatic fashion. Supply side is stupid, IDK really what else to say, tell them to look at Kansas?
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Sep 24, 2015 05:59
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| # ¿ May 9, 2024 18:54 |
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