RE: What Is Keynesian Economics?

You are viewing a single comment's thread from:

What Is Keynesian Economics?

in money •  8 years ago 

I am Glad somebody is setting the history correctly, conservatives have always tried to deny Keynes and the proof was in the pudding when in the late 40s the depression was lifting quickly under the 5 year plans on infesture investment, at that time the conservatives scraped the idea and went back to lowering wages and as in your essay the effect was that the depression lasted a lot longer than it had needed too.
The same mistakes have happend again where yet again the move was from Keynes back to austerity, in the Uk it has meant that wages which could be paid back into paying down deficit instead now pay employers to create part time workers where they no longer have to pay tax and insurance which as you can guess a bigger struggle to find money to pay the deficit other than destroy civic amenities and make more people unemployed with a lack of any job security.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!