Well Known Communist, Milton Friedman
- Thread starter Ponca Dan
- Start date
Why would you ever invoke tariffs if not for leverage? Leverage = weaponizing is your interpretation, which as we know is as enduring as dry ice in Fiji.
Let’s see. Team [P-DAN] consists of:
Hamas terrorists
Hezbollah terrorists
(Rumors that he was a big Papa Doc fan)
In the first round of the global political draft – Economics Expertise: [P-DAN] selects: John Maynard Keynes as his economic champion.
For a quick review of Keynes professional highlights, let’s go to the videotape: He has a record of ruining multiple global & regional economic systems and is currently an All-Star in repressed & communistic lands. His unique talents include:
- Inflation
- Keynesian policies can lead to inflation, especially when unemployment is low. Increased government spending can increase aggregate demand, which can lead to higher prices.
Increased government spending can lead to high levels of debt, which can crowd out private investment and raise interest rates.
- Short-term focus
- Keynesian economics focuses on short-term economic stability, which can come at the expense of long-term growth.
- Supply-side neglect
- Keynesian economics focuses on demand management, and often neglects supply-side factors like productivity and innovation.
- Red tape
- Keynesian models don't account for the impact of red tape, such as the cost of new regulations.
- Reduced productivity
- Keynesian models don't account for the reduced productivity that can result from shifting resources away from productive investment and toward redistribution.
- Government ability to estimate potential GDP
- The government may have difficulty estimating potential GDP.
- Lag time
- There can be a lag time between when Congress and the President try to pass legislation and when it actually happens.
- Centrally planned economy
- Keynesian economics can favor a centrally planned economy, which can undermine the role of market forces.
As I expected your understanding of economics is as archaic as Donald Trump’s. Economics and politics are not the same thing. You apparently don’t know that. And for the record I despise Keynesian economics. I’m more in the Austrian School. But I do give you credit for Googling something you could write and pretending you know what you’re talking about.
Oh, tell us more about how you came to side with the Austrian view.
Use your own words, not a link where others do the thinking.
As for many individualists it all began with Ayn Rand. Read *The Fountainhead” at 15 or 16, got hooked and read everything of hers I could find. Discovered there is an entire library of individualist books, many of them books on economics. I have no memory of what came first, but stumbled on von Mises, Hayek, Rothbard, Friedman (who is Chicago School, not Austrian), and others who called themselves “Austrian” as followers who expanded on Mises and Hayek. Read Adam Smith, the father of economics. I have written on here before about the “battle” between Keynes and Hayek. Hayek argued on behalf of the Invisible Hand, eschewing government involvement in market activities, while Keynes pushed hard for government to interfere “as needed.” Guess which economist the politicians chose to implement.
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