SamuelRSmith on 16 May 2012
| Mr Khan said: Nope, hadn't been aware of that, I guess it's another historical myth. I do remember that part of the issue was the adherence to the gold standard from my Monetary Economics class, part of the issue that messed up Europe after the first world war by attempting to restore pre-war prices. Of course, the issue with Keynesianism is that its tied to democracy, and improperly applied. Higher tax rates should be applied during the boom times to help slow the inevitable economic overheating (accumulating a surplus), set against tax cuts and stimulus spending during the |
If we just had a market-based currency system, the boom-bust cycle would be vastly reduced, and there would be no need for all this economic-engineering from central planners.
