Well, wait - what's the reasonable disagreement. At least from this perspective, the economy did not act in a way predicted by Keynes following WW2.
Given that the reason for the stimulus was to try to mitigate the fallout from the collapse of 2008, I just think it's entirely more likely that the suckiness was caused by the collapse, rather than the attempted remedy.
Okay, I think I'm confusing things.
1) Things sucked going into 2009.
2) The government acted.
3) The stimulus is either a) causing further problems or b) enhancing the existing ones.
But you asked "what if". I'm not sure what the alternative is. Five years of IMF-style austerity and North Korean Tree-bark soup for everybody?
Well, where I'm going is that it's time to place Keynes in the proverbial dustbin.
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Date: 27/8/10 14:13 (UTC)Well, wait - what's the reasonable disagreement. At least from this perspective, the economy did not act in a way predicted by Keynes following WW2.
Given that the reason for the stimulus was to try to mitigate the fallout from the collapse of 2008, I just think it's entirely more likely that the suckiness was caused by the collapse, rather than the attempted remedy.
Okay, I think I'm confusing things.
1) Things sucked going into 2009.
2) The government acted.
3) The stimulus is either a) causing further problems or b) enhancing the existing ones.
But you asked "what if". I'm not sure what the alternative is. Five years of IMF-style austerity and North Korean Tree-bark soup for everybody?
Well, where I'm going is that it's time to place Keynes in the proverbial dustbin.