Keynesian economics

Redpill me on Keynesian economics. I've tried to do research, and I haven't gotten a clear answer.

Other urls found in this thread:

youtu.be/dT1AHDjzcsQ
fred.stlouisfed.org/series/M1
fred.stlouisfed.org/series/M2
youtube.com/watch?v=we4i4AdGa-A
youtube.com/watch?v=4AC6RSau7r8
youtube.com/watch?v=DyV0OfU3-FU
twitter.com/NSFWRedditImage

Basically this

He did literally nothing wrong.
Neoclassicals deregulated finance and started targeting inflation as their only economic indicator in the ~80s.

its called fiscal policy now

You can print more money for the price of paper and ink

If you can just print money and the population don't react, you are onto a winner

>In the long run we're all dead
Basically that.

Destroy stuff. It's good for the economy.

Helicopter money = economic growth

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Look at that skull. I never realized that Keynes was nigger. Things make so much more sense now.

He was also a faggot

Keynesian was a childless homosexual, his economics are for a brief spike of financial gain and then a massive crash two generations down.

global banking cartels use obsolete keynesian economic theory to maintain a hierarchal class structure where the 1% become the focus of a concentration of wealth and use money itself to control and manipulate people. money we spend is owned by governments that adhere to a scheme that issues money based on a brutal and unsustainable system of credit that has resulted in a culture of massive personal debt which ruins livelihoods and further encourages economic disparity. inflation causes our money to lose value based on interest rates chosen by the elite plutocracy. billions of people are underbanked and excluded from the financial infrastructure based on any number of factors. cash purchases are being outlawed; in spain and france purchases greater than €1000 are illegal. society in the developed world is being conditioned to be complacent while financial oligopolies force us to transact via their infrastructure exclusively; our liberty is endangered when our privacy is bought and sold by the narrow channels of economic exercise we have been outlawed from acting outside of.

bitcoin issues itself based on cryptography.

bitcoin is limited and therefore becomes deflationary with time.

bitcoin requires no government or corporate authorization to use.

bitcoin actually requires no third party arbiter at all for a transaction; its the first system of money that secures itself with a distributed database that is digitally tamper proof.

bitcoin banks the underbanked and can be relied on as a stable currency when irrational and dictatorial regimes abuse or mismanage national finances, like in Zimbabwe or Venezuela.

bitcoin can be built upon to normalize smart contracts that should enable a new economy based around micropayments and streaming money.

bitcoin is antifragile; it becomes stronger as it is attacked.

bitcoin is the ultimate tool for liberty in a society that seeks to control us with money.

Guy could not deal with being bald.

Keynesian economics is basically the go to of democratic socialism. The graph posted earlier in this thread shows volatility of the market without the related inflation graph that shows why it's not really volatility at all but the final seizures of a once free market. Keynesians get the rope too.

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itt people that have no understanding of economics.
Yes, destruction would cause economic growth, but only in the case that someone funds the reconstruction efforts. For example if unemployment is already non-existent, or if no one is willing to fund a war/reconstruction effort, a war or a natural disaster would have no effect on the economy. However, if there is a lot of people sitting around doing nothing such as was the case in Germany during the 30s, US before WWII, etc. and either the government or the private sector invests in production, this would improve the economy. This is why Keynes argues for increased Govt. spending in times of economic crisis, there are always things to do (building roads, improving infrastructure, etc) in a country, but not always the money to fund it, you solve that problem with deficit spending and recover the deficit either via growth or taxes in times of economic prosperity.
One, the money created by the FED is a very small fraction of the new money being introduced into the economy, most being either public or private debt.
Two, Keynsian policies mostly ended when Reagan/Thatcher being elected due to the inflation that constant wage growth/full employment generated which is what Keynesian policies prioritized after the 2nd world war. Today's fiscal policies both in the US and Europe are still attempting to balance the budget of the Govt. which is a Neoclassical idea.

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this is another good way of thinking about it too
basically its like this it can be easier to shift demand than supply this can be done by the government if they choose to do so to help boost the economy artificially. to stimulate growth or on the flip side to keep growth in check.
flip side of that coin? the government can fuck things up too and make things worse. also economies can fix themselves and are complicated making it hard to fix things sometimes you go to fix something and fuck it up instead. so over time itll fix itself.
counter counter argument if it takes decades for an economy to fix itself youre fucked.
modern macro economics is basically governments stepping in when they have to and using Keynesian economics some would call it to smooth things out keep booms from leading to bubbles and keeping busts from fucking our shit up.
so thats it thats Keynesian economics.
anybody saying its just hurr duur spend spend spend is a fuckin retard who doesnt know whay therye talking about as any 15 minute video on youtube can explain its more than that.

t. cartoon watching faggot

>redpill
>Keynesian

Choose one. Keynesian economics are a joke. Muh government intervention.

The effects of Keynesian economics take YEARS to take place while assuming "all things remain the same."

It's bullshit.

Austrian school is where it's at.

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>Yes, destruction would cause economic growth, but only in the case that someone funds the reconstruction efforts.
>1-1+1=2
t. (You)

ITT: Triggered Austrian "Economics" idiots.

T. Community college freshmen

You can't "bail out a bank". Its impossible and ridiculous.

We are in economic limbo since 2008 and are waiting for the next paradigm

>inb4
Its not bitcoin

>Gee bill how can we increase government spending if increasing taxes will cause too much backlash?
>We can just print our own money and let inflation "tax" people slowly overtime so they don't notice until a crash/recession comes

The fed is just going to fuck over trump's new tax cuts, and plunge us in the worst recession in living history because of 8 years of dem retardation, BUT it will all get blamed on trump and republicans because they inherited it.

Crash will come soon, dems will take over seats in 2018 and have full control of everything in 2020.

Austrian economics advocates 100% accountability and responsibility. Austrian school is the opposite of Keynesianism. If you want to be economically responsible, study Austrian economics, which is why its hard to deal in todays society because is SO economically irresponsible.

Those here defending Keynes are defending a system that openly failed in 2008.

Yes, now look at greece/rest of EU which cut Govt. spending in times of crisis.
Their debt in absolute terms is down, but because no one is spending money they debt to GDP is actually up and they won't recover for ~40 more years.
In my opinion Govt. debt is bullshit in general which stems from the fact that Smith didn't want to pay his taxes, but that's not dissapearing any time soon so as long as we're stuck with it it's a better idea to do what the US did and doing deficit spending instead of what the EU is doing.
No, try reading again.

Keynsianism

Except for the fact that Keynsyan policies have not been in effect since the ~70s.
Are you guys just pretending? I give up.

Keynesianism.

He was betting off letting Irving Fisher do the thinking and sticking to predicting WW2.

If you fall into a hole that might allow you to climb, but that doesn't mean you get any higher.
KEYNESIAN BRAINLETS GET THIS INTO YOUR PINHEADS: DESTROYING WEALTH IS NOT CREATING WEALTH. FULL STOP

read the quotes:
You are not fooling anyone. If you have an economics (((degree))), I am glad to say its worthless and you have been brainwashed. ALl those wall street guys had degrees too and spout the same shit you do - so good luck with that

Look at all that economic activity. They must be getting rich!

No it literally isnt, they took a part of it and ignored the rest.

He was in a homosexual cult, yeah. But he ended up marrying a sterile slav that brought them both a lot grief.


True redpill on keynes. He loved the british people and the whole point of his economic philosophy was to bring the brits out of poverty. He was saying how much better the UK would be if the workers made more and were paid better. He completely hated americans and knew they would make the UK more global if the UK became indebted to them.

All his writings were well recieved by the facists and he was a Mosley supporter ( whose entire economic plan was keynesism.)

An importamt thing said by him was that capitalism wasnt a perfect system that needed intervemtion or it would fail. He lined up with marx a lot on this. Je thought that if you didmt take policoes to protect the workers they would favor nat soc or communism instead.

His economic plan was to boost the economy when in trouble by lowering taxes and borrowing to spend on infastructure. This was only meant to boost the economy to get it back on track and it should revert back to how it was before. Now the policy is just to keep raising taxes and maybe do infastructure spending.

he was based

>In my opinion Govt. debt is bullshit
>but that's not dissapearing any time soon

It won't change due to spineless graph cucks like you Chang.

Those were critiques

also facts

thx for true explaination of keynes

Did you even understand what I posted?
Current academic economic thought does not teach Keynes thought.
Yes, inflation is taxation if the Govt. does it, however again
>ALl those wall street guys had degrees too and spout the same shit you do
No, they don't.
Finance is (usually) for financial deregulation and less Govt. control of the economy.
>the money created by the FED is a very small fraction of the new money being introduced into the economy, most being either public or private debt.
which essentially means that banks lending money benefit from the first spend.
You see there are a few prominent economists that have the same idea and publicly talk about it, and it doesn't change anything. No point in believing that I will.

>da gubbment no borrow da dolla dolla or make da press go print de print d monies for da sake o da gdp fo o fiddy years

Yes but he wasnt advocating for it to be that way. Keynes actually loved the Brits and didnt want them to get fucked over any over. He also didnt want the germans to get overly punished after either of the wars.

Youre making him out as some sort of subversive jew.

> existence of money is not helping the economy
t. anglo economist lecture to local niggers, unaware of eternal tricks

government intervention in the economy only leads to short term grow-

Keynesian economics is why all Western countries are billions or trillions in debt. It rationalizes huge government expenditures that they can't afford in hopes of the economy catching up. It never does.

>Finance is (usually) for financial deregulation and less Govt. control of the economy.
Deregulation is the opposite of "controlling" the economy. They want deregulation because the currency is FIAT. I want deregulation too, but with an HONEST money supply. You can't fuck around if money is real.

Also, "less government" ? ? Really? Do they really want that ? ? ? LESS government ? ? ? Do you really think they want LESS government ? ? ? ?

No - they don't. They want more - because that means more "stimulus"

>subversive jew
yes - because he was

>Broken Window Fallacy: The Post
Also,
>Today's fiscal policies both in the US and Europe are still attempting to balance the budget of the Govt.
What in fuck are you talking about? What led you to believe this?

Actually Keynes would be turning in his grave at what is considered Keynesian economics today. Although his methods are probably incorrect his methods have been cherry picked and twisted into today's corrupt crony corporate capitalism.

In what ways?

Name some things that he did that was anti UK or even anti european

Here you go OP. I literally played segments of this in economics class as part of my thesis. Professor was pissed but I passed.

youtu.be/dT1AHDjzcsQ

bailouts devalue the currency. You can flood the market with cash, but it wont be worth anything.

I thought that would be obvious - what with you being Russian and all

Austrians are the protestants of economics.

money printing
Inflation
currency devaluation
etc etc.

All those quotes above

Dear Keynesians,

You're wrong.

Best regards

Reality

> a few prominent economists
Holy shit you're a brainwashed overeducated idiot. I don't care what your other autistic degree wielders think. You remind me of people who think "Science" has all the answers. "Acorrdin to Neil Degrasse Tyson...".
This reply was meant to point out you have some belief that government tyranny is a fact of life.
It doesn't have to be this way, look at the past year with Trump, it's hope that the culture isn't dead and the people still want something better. Because without that, what's the point of your stupid economics degree if the society you live in is shit? The answer to our problems is not you calculator wielding faggots, it is the political, you autistic number crunchers are merely tools.

Keynesianism was the biggest mistake America has ever made

>Broken Window Fallacy: The Post
No, try reading again.
>What in fuck are you talking about? What led you to believe this?
Austerity in the EU, led by Germany.
US debt ceiling talks in the US, Trump wanting to cut Govt. spending and cutting taxes, etc.
Also this.
>You can flood the market with cash
But that didn't happen.
Inflation is flat, running at historically low levels and the money supply barely moved because banks stopped lending so much even if M1 and "money printing" is up (which is exactly the opposite of what Obama said but hey).
fred.stlouisfed.org/series/M1
fred.stlouisfed.org/series/M2
>Holy shit you're a brainwashed overeducated idiot. I don't care what your other autistic degree wielders think. You remind me of people who think "Science" has all the answers. "Acorrdin to Neil Degrasse Tyson...".
Point being that most academic economists and those running the Central Banks and other institutions do like the idea of Govt. debt, while I disagree.

I give up for real this time, this is so fucking pointless.

He never advocated for any of that. All he said was pick up some debt to boost the economy. He said to pay debts when the upswing hit, its not his fault governments decided not to do that.

Also your forgetting the whole thing of being for UKs workers rights and the such and has to do with getting rid of a lot of the slums

Public projects are the motor of the economy, you can't live without them, you can't pretend that privates can do a lasting job.

Stopped reading at "Bitcoin" ahahaha

Damn, economy threads still bring out the old-fashioned lolbertarian autism I remember from 2013 Sup Forums.

>Inflation is flat, running at historically low levels
Yeah - Its strange that isn't it? Like you can just create $700bn and "stimulate" the economy with that without creating ANY inflation WHATSOEVER ? ? ? ? ?

Its almost like theres some SHADOW BANKING SYSTEM hiding the inflation - - - - or maybe sneaky accounting - - - - or maybe its why bitcoin exploded since 2008 ? ? ? ?

I don't know but the fact is - if you create $700bn to bailout and no inflation happens - something underhanded is going on

very well arguemented, fucking faggot
and never ever address the point that Germany was massively indebted during ww2

debt is borrowed at interest - so theres no way to EVER pay it off. You just have to borrow more

> shitty tasteless altright picture
just as usual, oldfarts cannot into memes

You didn't read the rest of the post again.
>Inflation is flat, running at historically low levels and the money supply barely moved because banks stopped lending so much even if M1 and "money printing" is up (which is exactly the opposite of what Obama said but hey).
>the money supply barely moved because banks stopped lending so much
>the money supply barely moved

what is Venezuela a 2300% inflation...
Keynesian utopia

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The facts are:

Currency is fiat.
All currency is borrowed at interest.
So economies are always chasing the interest by borrowing more - at interest.

Austrian economics advocates an HONEST money supply.

No need for wading into a quagmire of faggotry - just real money

Debt is not Capital.

Our nations and "the international community" run on debt that they can just print as much of as they want.

This devalues the currency.

Thats why you can't afford a house or start a family.


youtube.com/watch?v=we4i4AdGa-A

youtube.com/watch?v=4AC6RSau7r8

youtube.com/watch?v=DyV0OfU3-FU

That's where you're not understanding.

What happens during a recession?
>deflation

So what kind of inflation then occurs when a central bank undertakes easing monetary operations and (re-)expands the monetary base?
>reflation

Why people cannot grasp this very elementary concept is absolutely beyond me.

well, "reflation" is just inflation.......................but with a "re" instead of an "in" at the beginning.

Lol thats not how it works at all. The interest wont be greater than the growth potmetial it would provide.

Companies run on the principle of getting loans to expand growth and pay it off when it picks up. Governments should be able to do the same.

If you redistribute money from where it will be used to produce something of greater value to something that will be of lesser value (i.e public works projects) you slow economic growth, not boost it.
Also lets remember that higher government spending always leads to higher taxes.

Keynesian economics is concerned with full employment, and Keynes """discovered""" how to get full employment by observing how Hitler was already achieving it.
The Jews always hated Keynesian economics because it is the best part of Hitler's legacy - jobs and bread for the working man to keep him from being subverted by filthy Jew International Socialism.
Keynesian economics was subverted by the Monetary economics of (((Friedman))) in the 1980s, which transferred all power from nation states to the banks.
The result - the Jew gets to rape us all, and then when """capitalism""" collapses under a pile of debt and shitty employment conditions we all go to Soviet gulag while Jew commissar steals resources.

Why aren't young people getting involved in society and the economy?

Answer 1)
They're lazy even though they've all got degrees and qualifications galore

or

Answer 2)
Money printing and bailouts devalued the currency to the extent that its not worth earning compared to house prices and cost of living and affording a life is mathematically impossible.

>I give up for real this time, this is so fucking pointless.

Come now, friend. Remember that you are seldom in a position to persuade the people you ostensibly are trying to argue with and persuade. It may feel like screaming into the void, but there have always been many more lurkers than posters; it is those people who you can win over if you articulate your ideas well.

The borrowing is the growth. They are borrowing from the central bank

more jobs for the sake of employment looks very redundant to me

Right. I'll make an analogy, since you're still not grasping entirely this very simple concept.

The economy is a tire. Its air pressure is the money supply. When its too low, when it deflates, the central bank reinflates with more air. Too much air - too much real inflation - tire bursts.

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>You can't fuck around if money is real.

>coin clipping
>asteroid mining
>gold rush
>bank rush
>bimetallism
>bank robbery

Real money is more dangerous than muh fiat because fiat can be controlled in exceptional circumstances. Imagine a gold standard based economy when someone deorbits a 100 ton solid gold chunk from space.

Underrated

very funny

Yes, and? What then?

>One, the money created by the FED is a very small fraction of the new money being introduced into the economy

yeah - the bursting being the devalued currency from too much pumping.

Also - where id the central bank get all the air from? It just creates it. So if the population still value air even though it can be created from nothing you are on to a winner. But its fake and will fail.

I've studied this guy in economics and his teories doesn't makes sense until you realize he is a socialist, a fabian socialist (see Fabian Freeway; High Socialism in the U.S.A.)

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If you combine two contrary theories, you don't get a "middle way", you get shit.

Implying that growth won't diminish with each iteration of this policy.

No the growth for a company would be all the people they hire. Those people would then spend money into the economy. Thus making more money being put into the economy. Growth.

Governmemts should be doing the same exact thing.

You want less jobs for the sake of unemployment then?
Your comment is redundant.
Do not concern yourself with first world problems, Pecheneg. Go play with your horses.

Im not implying that. This policy has been beaten and abused its supposed to be reserved for boosting the economy when its slow.

>Governmemts should be doing the same exact thing.
They do. And at some point all that "growth" will devalue the currency to the point its not worth earning.

Like cancer to its host