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[Badassbab]

mrstickball said:

Badassbab said:

Kasz216 said:

 

I shifted quite a bit right economically.  I can only blame it on the the extreme failure of Keynsian economics (again) and the new government regulations basically being pinpointed by most economists as what is holding back job hiring.

Time and time again Keynsian economics fails, yet politicians keep trying it, because you won't lose your job if you try but fail and pretend you did something helpful.

Out of interest what do you propose? Keynesian economics was ditched in the 70's, it only (partially) resurfaced after the global financial crisis to prop up the very institutions that favoured ditching Keynesian economics. It didn't cause the current economic crisis.

Arguably, Keynesian economics did help create the American crisis.

Our housing markets failed due in part to the government creating incentives for people to purchase houses (a classic Keynesian idea - incentivize consumption). Furthermore, the Community Reinvestment Act was/is a partial culprit in the crisis which (again) has roots in Keynesian economics of the 1970s which continued to grow and maturate in such a way to give significant power to incentivizing housing sales for those that could ill afford it.

Arguably yes but Keynesian economics never intended it to be used in conjunction with monetarism. With the deregulation of the Financial institution starting in the 1970's remnants of Keynesians economics did stay with us (and to the benefit of the banks and lenders). It was a lethal mix.