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View Diary: Polyphemus (259 comments)

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  •  I think you misread what I wrote (1+ / 0-)
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    There are times when the budget should be balanced or writing a surplus, and there are times when we should be borrowing money to spend on stimulating the economy. That's what Keynes says, and I agree.

    There is no reason why that principle can't be written into a nuanced balanced budget amendment, which is why I explicitly called it "an economically-informed (Keynesian) balanced budget amendment". The obviously heterodox implication is that neoclassical or other anti-Keynesian approaches do not count in my book as "economically informed".

    I gather from what you say here that we're probably in violent agreement, so I'm unsure what you're complaining about unless you simply misread the post.

    It's also possible that you believe that anything called a "balanced budget amendment" has only one possible manifestation. That's what I was attempting to rebut in advance by explicitly invoking a Keynesian approach.

    I didn't expect to get yelled at by another Keynesian, though.

    If you check out a few of my diaries, you can establish my heterodox credentials fairly easily.

    Nemo iudex in sua causa. -5.88,-7.90

    by Jurassic Game Warden on Mon Oct 20, 2008 at 02:04:27 PM PDT

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