Keynesian Economics: Why it isn't working

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Wednesday June 16, 2010 · 2:06 PM PDT

2010/06/16 · 14:06

After a couple of recent posts, I went back to dust of my old economics book to find a chapter on Keynesian economics. I then searched the Internet to find out if his theory holds true in today's economic conditions. Economy in Crisis happened to post a video a few days ago discussing exactly this topic.

For the purpose of debate, I've pulled some quotes... the entire video can be watch here...

DeficitAid

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Tuesday June 15, 2010 · 10:57 AM PDT

2010/06/15 · 10:57

The idea that a liberal economist who criticized Bush's deficit spending policies, but now supports Obama's over spending is not earth shattering news. What changed Mr. Krugman's views? His ideology? Is he being controversial for the sake of playing the media commentary game? Or, has the economic conditions changed to a point that would warrant a flip-flop on massive deficit spending? These questions are interesting to discuss.

DeficitAid

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Monday June 14, 2010 · 12:12 PM PDT

2010/06/14 · 12:12

The debate continues in the country. Do we save the economy by reducing the deficits or continue to stimulate with increased federal deficit spending? One of the major key indicators of an economy is unemployment. This chart shows the rise and fall of unemployment during boom times and recessions from 1890 to today. There are many theories for the causes of these historical peaks and valleys. These same ideas are being used as examples of how to fix the current economic problems. Are any of these past fixes applicable to today's problems?

Read more: http://www.deficitaid.com/...
Live U.S. Debt Counter iPhone App Free DeficitAid.com

DeficitAid

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Thursday June 10, 2010 · 10:51 AM PDT

2010/06/10 · 10:51

Base on comments made here to a previous diary, I've written a new article to debate... The premise is we should be spending more and deficits don't matter....

Republicans under Bush and Democrats under Obama share a similar view. Deficits don't matter. Perhaps, they are right. If they are wrong, what are the consequences? Will spending cause a crisis or not?

Under Bush, the unfunded war and tax cuts cause a huge surge in the deficits. In his February 2005 Weekly Standard Article, Irwin Seltzer wrote:

WHEN DICK CHENEY SAID, "Deficits don't matter," economists took that as proof of the economic illiteracy of the Bush administration. But it turns out there is a case to be made that Cheney was onto something.

DeficitAid

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Saturday June 05, 2010 · 10:29 AM PDT

2010/06/05 · 10:29

BP is responsible for not have a plan in place to stop the oil from flowing into the gulf. This lack of foresight will cost them $20 billion dollars, which thankfully they can afford. Obama's administration is to blame for the lack of oversight or understanding in deep water drilling. If our government gives permits to drill without assuring that the company has worse case scenarios covered, then Obama does have to answer for failing to managing the situation properly. Every cure to fix to leak has all been "firsts" or "experimental" or "never before tried". That just makes my blood boil! WHAT???? HOW CAN THAT BE!!! This company made $20 billion and our government doesn't demand they have fail safes in place to quickly fix oil spills. How stupid!

DeficitAid

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Sunday May 30, 2010 · 4:36 AM PDT

2010/05/30 · 04:36

I was on the beach yesterday in long island with a friend who works in Washington basically explaining new bills to industries. We, as usually, got into politics and my concerned with the deficits. Then we had this really interesting conversation about how to fix the problem.

DeficitAid

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Friday May 28, 2010 · 6:47 AM PDT

2010/05/28 · 06:47

I'm not even sure what the M3 Money Supply has to do with measuring the state of the economy. I found an article in the UK. The brits and europe certainly see the M3 U.S. money supply as very alarming. In fact, the U.S money supply level are reducing at a pace not seen since 1939. Comparing anything to 1939 is a bit of red alarm.

DeficitAid

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Thursday May 27, 2010 · 8:43 AM PDT

2010/05/27 · 08:43

Some ecomomists believe governments can spend out of a recession.
That's a big roll of the dice that many U.S. Presidents have thrown
over the years. Unfortunately, President Obama is the last one at
the table with cold dice. His rolls are starting look like a
bust.

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Keynesian Economics: Why it isn't working

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Deficit Hawks, Krugman and Fairy Dust - What will work?

Deficit Spending: Is there a crisis or not?

100% Debt Vs. GDP Vs. Oil Spill Vs. Does any one care?

We need the next big thing?

M3 Money Supply? Did this cause the financial collapse? Will this cause double dip recession?

Ut Oh! The Stimulus didn't Work?