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>Kayne-zee-uns say that goverment can stimulate the economy by breaking windows >But every dollar spent on repairing those broken windows could be spent elsewhere >Even though the whole point of Kayne-zee-unism is that spending is not going on in the private sector
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The school you're thinking of is Chartalism. Here's a Wikipedia article (which I have not fully read, so caveat emptor): http://en.wikipedia.org/wiki/Chartalism Here's a terrific article on Modern Monetary Theory at the Seeking Alpha website: http://seekingalpha.com/article/242669-the-trouble...
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"since the new deal and Keynesianism failed to end the great depression" That's patently and demonstrably not true. Government spending during WW2 put people to work, put money in their pockets, stimulated private spending and investment, created demand for more products, created the middle...
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I have a friend who doesn't have the knowledge yet to answer this guy and I can't really check it over for another few hours, although I'm sure it's full of fallacies, false dichotomies and unsupported assertions - I find that non-Austrians are generally devoid of the ability to think...
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Important: to read this comment you will have some basic knowledge about the (somewhat tricky) concept of „ecological footprint“*. I will begin with an important distinction „relative poverty' compared to „absolute poverty“. Historically seen the term relative poverty...
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One frequent citation of the keynesians for deficit spending working positively and reversing a downtrend is Sweden's exit of the depression before any other country (1929-1934), and a continued downslump in America's depression when FDR supposedly balanced the budget in the mid 30's. I'm...
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Let's say widgets have been selling like gangbusters and it is a trillion dollar industy. People spend 1 trillion per year on widgets. Let's say 10,000,000 people are employed in the industry. All of a sudden, something happens and no one wants widgets anymore, they decide to save their money...
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I have through the years encountered explanations of economic concepts that I do not understand. Moreover, I have met other people who also do not understand. What are these mainstream economists motivated by? I would guess a large part of their motivation is that they are perceived as more intelligent...
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Paul Krugman wants to be our savior. Moreover, he wants to be a specific kind of savior: a magus of the scientific age, a blackboard prophet. The roots of this curious ambition can be seen in his recent profile in Newsweek : Krugman says he found himself in the science fiction of Isaac Asimov, especially...
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Hello, I have been reading Mises.org now for about 6 or 7 years and it has really been the best teacher I've ever had on almost any social science topic I've been interested in. Usually questions I have can be answered by doing searches on the site or at least i can be directed to something off...