so it is working, then; just not for us....
Emeritus Prof Christopher May's Post
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Ramesh #NotGoingBack
In response to this post⬆️ @ChrisMayLA6 @alexproe
>> so it is working, then; just not for us...
>> So it's not so much #Keynes has been rejected, but rather it's only applicable when the rich are in trouble!
#Keynsian theory formed the underpinnings of #Reagan's obscene #TrickleDown theory in which the rich would reinvest money saved in taxes to drive growth.
#US has the rich getting richer while infrastructure like bridges and airports crumble, and services like #heathCare are only for those who can afford to pay.
@rameshgupta @alexproe
If Reagan's economists where Keynsians, then they were the bastardisation called neo-Keynsianism that was an out growth of neo-classical economics that sought to mimic some of the discourse of Keynsianism with none of the progressive content... just calling yourself a Keynsian (if they did) doesn't;t make you one....
The problems you identify are real, but they are not due to Keynsian economics - that is all about 'effective demand' not enriching the already wealthy!
by Emeritus Prof Christopher May ;
Tags: #keynes #keynsian #reagan #trickledown #us #heathcare #keynes #keynsian #reagan #trickledown #us #heathcare
Mentions: @ChrisMayLA6@zirk.us @alexproe@mastodon.uno @ChrisMayLA6@zirk.us @alexproe@mastodon.uno
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