Keynesian economics helped bring capitalism to the late stage. The central premise is to cause inflation so that workers are encouraged to invest in businesses, growing the overall economy. Which it did! The economy has grown drastically… but we don’t own it.
Keynes suggested that we spend the inflation money on public works, not guaranteed returns for people with so much money that they can lock it away in bonds. It’s an idea that requires a functioning democracy while constantly funneling money away from workers. We’re creating all these bubbles because people want to save for the future but everything is a scam. Keynes didn’t realize that what he was asking for was free information that we don’t have.
Keugman and other modern Keynesians generally mean well. But they’re incredibly dangerously wrong, and we never should have listened to them.
Sadly the alternative we’ve been given is supply-side propaganda, which is trickle-down with fairy dust.
As I said, I’m not a not a Nobel laureate economist, but I bet Krugman sees the Keynes model as exactly that, a model, to be adjusted with observable facts. And we now have a lot of history, so I can assume we have a better model.
This might be one of those moments where perfect is enemy of the good. If we fail to make changes quickly, we may not have an economy left to save, and US and EU will have great famines in the history books.
This batch of plutocrats have enough wealth, and maybe the technology to autocracize the entire world and contain and control the entire working-class population of yhe earth. At least they are frantically trying to develop and deploy that technology already.
Their propaganda machine is already massive and effective at isolating and indoctrinating its victims.
If we don’t stop them soon, we may never have another chance.
Keynesian economics helped bring capitalism to the late stage. The central premise is to cause inflation so that workers are encouraged to invest in businesses, growing the overall economy. Which it did! The economy has grown drastically… but we don’t own it.
Keynes suggested that we spend the inflation money on public works, not guaranteed returns for people with so much money that they can lock it away in bonds. It’s an idea that requires a functioning democracy while constantly funneling money away from workers. We’re creating all these bubbles because people want to save for the future but everything is a scam. Keynes didn’t realize that what he was asking for was free information that we don’t have.
Keugman and other modern Keynesians generally mean well. But they’re incredibly dangerously wrong, and we never should have listened to them.
Sadly the alternative we’ve been given is supply-side propaganda, which is trickle-down with fairy dust.
As I said, I’m not a not a Nobel laureate economist, but I bet Krugman sees the Keynes model as exactly that, a model, to be adjusted with observable facts. And we now have a lot of history, so I can assume we have a better model.
This might be one of those moments where perfect is enemy of the good. If we fail to make changes quickly, we may not have an economy left to save, and US and EU will have great famines in the history books.
Which changes quickly? If we don’t stop the concentration of wealth by addressing its root causes, then all of this will happen again.
This batch of plutocrats have enough wealth, and maybe the technology to autocracize the entire world and contain and control the entire working-class population of yhe earth. At least they are frantically trying to develop and deploy that technology already.
Their propaganda machine is already massive and effective at isolating and indoctrinating its victims.
If we don’t stop them soon, we may never have another chance.