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View Diary: Boehner: 'Job creators in America are essentially on strike' (183 comments)

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  •  Never mind that Friedman and Hayek (3+ / 0-)
    Recommended by:
    wu ming, chrismorgan, Plox

    didn't agree. Friedman had an essentially Keynesian view of recessions and depressions but thought a properly conceived monetary policy could stabilise the economy on its own.

    Hayek, on the other hand, thought recessions were a supply miscoordinations and not failures of demand. Evidence in favor of this view: pretty much none, which is why the Austrian school has spend the last 70 years arguing methodology and denying the usefulness of econometrics.

    Iuris praecepta sunt haec: Honeste vivere, alterum non laedere, suum cuique tribuere. - Ulpian, Digestae 1, 3

    by Dauphin on Thu Sep 15, 2011 at 11:57:41 AM PDT

    [ Parent ]

    •  If all economists agreed with your view of things (0+ / 0-)

      we wouldn't have any dispute.  

      Unfortunately there are competing economic views out there. For every liberal/progressive economist, conservatives can point to a conservative economist with opposing views.   And each side dismisses the other as "wrong."  And your average voter -- even one who follows politics and the economy -- cannot parse out where he/she agrees with one theory and where he/she agrees with another.

      And as long as half the country believes one set of economists and half the country believes another set of economists, I don't see much hope in getting some big push either in the direction of the liberal/progressive school of thought or in the conservative school of thought.  Politics being what they are, any "jobs" bill is likely to be a mish-mash of the two.  

      •  Follow the $. The Whores of Capitalism will say a (0+ / 0-)

        nything for enough, whether Austrian, Chicago or whatever 'school'.

        Simple test: whose pocket does their policy put $ into now?

        The rest is mere wind.

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