tag:blogger.com,1999:blog-626594980028435818.post4328993322182595274..comments2024-03-28T18:11:40.841-04:00Comments on Sightings Over Sixty: What Would Keynes Do?Tomhttp://www.blogger.com/profile/08611148987085476580noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-626594980028435818.post-17872021507411899672011-08-22T21:11:51.621-04:002011-08-22T21:11:51.621-04:00Two factors which have not been considered since K...Two factors which have not been considered since Keynesian times: <br /><br />1. The huge increase in global population which was 2 billion in Keynes' day, today it is close to 7 billion. <br /><br />2. The peaking of our easily obtainable natural resources, specifically petroleum, which some feel has already happened, or will soon.<br /><br />3. The effects of Global Climate change and the effect this will have on reducing world fresh water supplies, crop production and land suitable for farming.Robert the Skeptichttps://www.blogger.com/profile/10863488312604865183noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-43993096987076693032011-08-21T19:45:23.112-04:002011-08-21T19:45:23.112-04:00Interesting post. I'd like to see our troops ...Interesting post. I'd like to see our troops brought home and put to work on the infrastructure and other domestic needs. Those people have discipline, motivation and leadership ability.Linda Myershttps://www.blogger.com/profile/05706455533282204519noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-2328179932590901412011-08-21T17:20:59.902-04:002011-08-21T17:20:59.902-04:00Interesting post and comments. A couple of things...Interesting post and comments. A couple of things have happened to affect the American economy that Keynes could not have foreseen. One of the most importance is the huge influx of women into the labor force since his death. Another is the very large contingent of immigrants, legal and illegal, who have been absorbed by the U.S. economy in the past 40 years. <br /><br />It is a tribute to the vitality of our economy that the many millions of new workers could be accommodated. But at the same time, this has tended to keep real wages very low, this making it difficult for the economy to contnue growing. Our consumers have difficulty buying the products of our businesses. It also is a major contributor to the high unemployment rates we now face.<br /><br />Thus, although I think most Keynesian theory is still applicable, the situation today is different than anything he experienced. We need some creative economic thinking to deal with current realities.Dick Kladehttps://www.blogger.com/profile/11793395712483278104noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-75980083095395993632011-08-21T06:48:50.978-04:002011-08-21T06:48:50.978-04:00There are, of course, those who think that FDR ext...There are, of course, those who think that FDR extended the Great Depression. WWII did, indeed, help us out of the Great Depression. but that was before we entered it. We became a supplier of various products for England and Russia, for example. Adolf followed Keynes' economic philosophy also. It is how he pulled Germany out of the European Depression. Of course, that wasn't such a good thing.<br /><br />My take on Keynes and FDR is that his following of that strategy cushioned the effects of the Great Depression somewhat.<br /><br />By the way, Apple has over $76 Billion in reserve, according to NPR.Douglashttps://www.blogger.com/profile/09752593286034877538noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-74559401981909113932011-08-20T15:40:58.124-04:002011-08-20T15:40:58.124-04:00This is a nice synopsis of Keynes thinking. The pr...This is a nice synopsis of Keynes thinking. The problem today is different,however.<br /><br />1. We have a huge debt that the folks in the early 1930s did not have, and debt interest payments eat up tax dollars. <br /><br />2. We have a global economy and can do litttle about other countries economic policies, i.e. China, Greece, etc. <br /><br />3. The trade deficit has been a problem for over 30 years. <br /><br />4. Where does the lousy mess from the housing bubble fit here? Until housing recovers, nothing will improve.<br /><br />Are you advocating QE3? <br /><br />I support infrastructure investment for many reasons. So, raise the gas tax which provides support for roads, bridges, etc. Better yet, how about a redo of the Tax Code...i.e. flat tax rates, no deductions, and raise the gas tax. <br /><br />The Washington Post has been asking readers to submit ideas for stimulating the economy and dealing with he debt mess, then printing their ideas on the editorial page. Many bright ideas out there. <br /><br />My family certainly benefitted from FDR's policies, but times have changed, Alas.<br /><br />Dianneschmidleysscribblins.wordpress.comhttp://schmidleysscribblins.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-18336204327272514752011-08-20T14:22:09.668-04:002011-08-20T14:22:09.668-04:00I feel smrtr now, having read this. I have never b...I feel smrtr now, having read this. I have never been able to understand ECONOMICS. All of what you've written about Mr. Keynes' thinking and possible thinking makes an awful lot of sense to me.<br /><br />I was, I believe I have mentioned before, a member of the high school economics class that moved the teacher to an explosive: "I've never SEEN a class more interested in knowing where THE MONEY IS!"Junehttps://www.blogger.com/profile/11710135137635433217noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-90796616617940752322011-08-19T19:14:20.801-04:002011-08-19T19:14:20.801-04:00I think it's so funny when Keynes' critics...I think it's so funny when Keynes' critics say his economic theory was flawed because it wasn't really the government's increased spending that got us out of the depression--it was really WWII. <br /><br />What was WWII but a HUGE government spending program--an mammoth stimulus package using mountains of federal borrowing!<br /><br />I agree with the supporters and the detractors--it worked!Retired Sydhttp://retiredsyd.typepad.comnoreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-67421349538459549172011-08-19T19:08:24.723-04:002011-08-19T19:08:24.723-04:00Thanks for the tutelage!
So, let me think. Which...Thanks for the tutelage! <br /><br />So, let me think. Which economist should we listen to? Keynes, the tried and proven? Or Ayn Rand, darling of the tea party, failed screenwriter, lousy novelist, morally-challenged narcissist, and no economist by any stretch of the imagination?Nancehttps://www.blogger.com/profile/15166865250789996825noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-8581395322766881462011-08-19T19:00:31.324-04:002011-08-19T19:00:31.324-04:00Good post!!! Too bad that certain people in this c...Good post!!! Too bad that certain people in this country refuse to listen to rational thinking.Kay Dennisonhttps://www.blogger.com/profile/02646717192332313215noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-91126806774195779322011-08-19T17:07:00.519-04:002011-08-19T17:07:00.519-04:00That is a very informative post, with much food fo...That is a very informative post, with much food for thought. My knowledge of the economy is sadly lacking, so I thank you for a bit of education.Olgahttps://www.blogger.com/profile/00692441479616299920noreply@blogger.com