re: #473 Obdicut

There is nobody— outside Paulian kooks- who thinks actual Keynesian economics is just wrong . There are people who don’t think that you can use Keynesian economics to actually craft policy responses. The two things are very, very different.

I would argue that the 2 times it’s been tried in this country, it failed to get the intended response. If you’re argument is going to be based on the idea that it would have worked if we had spent more then shouldn’t we have at least a hint that it might work in our 2 attempts?

According to Keynes:

The theory of aggregated production, which is the point of the following book, nevertheless can be much easier adapted to the conditions of a totalitarian state [eines totalen Staates] than the theory of production and distribution of a given production put forth under conditions of free competition and a large degree of laissez-faire. This is one of the reasons that justifies the fact that I call my theory a general theory.

In theory it will work. In the real world we get the results we’ve already seen, failure.