(NaturalNews) [...] the oft-tried Keynesian strategy of profligate government spending as a way to spur a capitalist economy has not only failed miserably, which was predictable, but it has created a class of Americans who subsist nearly entirely on government largess.
GOP presidential candidates Newt Gingrich and Mitt Romney have hit on this as part of their campaign strategy. Romney has said "over the past three years, Barack Obama has been replacing our merit-based society with an entitlement society". Gingrich has labeled Obama "the best food-stamp president in American history." Read more at Natural News...
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Showing posts with label Keynesian Theory. Show all posts
Showing posts with label Keynesian Theory. Show all posts
Saturday, February 11, 2012
Thursday, September 8, 2011
WSJ: Why the Stimulus Failed
New research on what actually happened to a trillion dollars - For readers who want to know, an important account is offered in a pair of new Mercatus Center working papers by the George Mason economists Garett Jones and Daniel Rothschild, who did field research on what they call the supply side of the stimulus.
The Keynesian theory was that a burst of new government spending would take up some of the slack in aggregate consumer demand. This was justified in 2008, again in 2009, and is still defended now based not on real-world observation but on abstract macroeconomic models that depend on the assumptions of the authors. The Congressional Budget Office's quarterly studies—often cited to claim the stimulus created tens of thousands of new jobs—are based on such a model. By informative contrast, Messrs. Jones and Rothschild interviewed actual people who received stimulus dollars and asked how they spent the money. Read more at the Wall Street Journal... Read More......
The Keynesian theory was that a burst of new government spending would take up some of the slack in aggregate consumer demand. This was justified in 2008, again in 2009, and is still defended now based not on real-world observation but on abstract macroeconomic models that depend on the assumptions of the authors. The Congressional Budget Office's quarterly studies—often cited to claim the stimulus created tens of thousands of new jobs—are based on such a model. By informative contrast, Messrs. Jones and Rothschild interviewed actual people who received stimulus dollars and asked how they spent the money. Read more at the Wall Street Journal... Read More......
Saturday, August 27, 2011
About Tax Cuts and Two Distinctly Different Philosophies
HUB PAGES - Both Parties Have Enacted Tax Cuts in Last Half Century: Here are links to two older articles dealing with economic philosophies that help sort out How Tax Cuts Work and Democrat vs. Republican Tax Cuts.
Interesting! Read More......
Interesting! Read More......
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