NOTHING has changed in this wicked #conservative story in 5 decades, except that rich got richer, poor got poorer, infrastructure crumbled, and services vanished!
Per #IMF, "Keynesians believe that… fluctuations in ANY component of spending,… [e.g.] investment,… cause output to change. If government spending increases, for example, and all other spending components remain constant, then output will increase".
#Reagan's connivers substituted "rich" for "government" and claimed the RICH would drive growth by reinvesting money saved in taxes.
>> 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.
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!
Ramesh #NotGoingBack's Posts
Ramesh #NotGoingBack has 6 posts.
Pinned
Ramesh #NotGoingBack
I don't carry out #vigilanteJustice like #WhackATroll or mete out punishment to people who "annoy" me and celebrate those with gleeful #toodles.
Instead, I have a #RUDEphilosophy, where the leading acronym R.U.D.E. stand for #Reconcile, #Update, #Disagree, and #Expose:
1. Parties reconcile differences & move on.
2. One party realizes their assumptions were outdated. Update & move on.
3. Parties agree to disagree & move on.
4. One party exposes themselves as a #troll and refuses to move on.
Tags: #vigilantejustice #WhackATroll #toodles #rudephilosophy #reconcile #update #disagree #expose #troll
Likes: 0
Replies: 0
Boosts: 0
Ramesh #NotGoingBack
If I "at" the original poster and posted a link to my existing thread like this ➡️ https://mastodon.social/@rameshgupta/113732127875416207, I'd be accused of #hijacking someone's post.
If instead, I "replied" to the original post ➡️ https://mastodon.online/@SocraticEthics/113731407465220573, and since I'm a guy, I'd be labeled #ReplyGuy because someone might consider that clarification "annoying."
Social media is fickle. Stop bothering about what people think and do what makes sense to you in good faith.
It's NOT humanly possible to earn EVERYBODY's adulation
Tags: #hijacking #replyguy
Likes: 0
Replies: 0
Boosts: 0
Ramesh #NotGoingBack
I have said from the beginning that #Hamas #Oct7 attacks were timed for #ElectionInterference in #US #Election2024.
Never has this been more obvious than now.
Members of BOTH #Arab and #Jewish diaspora in #US have ratcheted up their attacks on #Democrats since #KamalaHarris became the presumptive nominee.
I have noted at length Rashida #Tlaib's role under that hashtag. Below, I note some from the #Israeli side.
BOTH groups are holding #Harris hostage to extract concessions for their side.
⬇️
Tags: #Hamás #oct7 #electioninterference #us #Election2024 #arab #jewish #democrats #kamalaharris #tlaib #Israeli #harris
Likes: 0
Replies: 0
Boosts: 0
Ramesh #NotGoingBack
⬆️ @ChrisMayLA6
>> Indeed; classic bait & switch
Indeed.
In a nutshell, their line of persuasion was:
1. Government is too big.
2. Cut down the government.
3. Why pay taxes to government?
4. Give tax cuts to the rich instead.
5. The rich will take care of the poor.
6. More succinctly, #PrivatizationOfGovernment
NOTHING has changed in this wicked #conservative story in 5 decades, except that rich got richer, poor got poorer, infrastructure crumbled, and services vanished!
@alexproe
Tags: #privatizationofgovernment #conservative
Mentions: @ChrisMayLA6@zirk.us @alexproe@mastodon.uno
Likes: 0
Replies: 0
Boosts: 0
Ramesh #NotGoingBack
⬆️ @ChrisMayLA6
They spun the basic tenet of #Keynsian or #Keynesian Theory:
Per #IMF, "Keynesians believe that… fluctuations in ANY component of spending,… [e.g.] investment,… cause output to change. If government spending increases, for example, and all other spending components remain constant, then output will increase".
#Reagan's connivers substituted "rich" for "government" and claimed the RICH would drive growth by reinvesting money saved in taxes.
@alexproe
https://www.imf.org/external/pubs/ft/fandd/2014/09/basics.htm
@rameshgupta @alexproe
Indeed; classic bait & switch
by Emeritus Prof Christopher May ;
Tags: #keynsian #keynesian #imf #reagan
Mentions: @ChrisMayLA6@zirk.us @alexproe@mastodon.uno
Likes: 0
Replies: 1
Boosts: 0
Ramesh #NotGoingBack
⬆️ @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
Likes: 0
Replies: 1
Boosts: 0
Ramesh #NotGoingBack
I don't carry out #vigilanteJustice like #WhackATroll or mete out punishment to people who "annoy" me and celebrate those with gleeful #toodles.
Instead, I have a #RUDEphilosophy, where the leading acronym R.U.D.E. stand for #Reconcile, #Update, #Disagree, and #Expose:
1. Parties reconcile differences & move on.
2. One party realizes their assumptions were outdated. Update & move on.
3. Parties agree to disagree & move on.
4. One party exposes themselves as a #troll and refuses to move on.
Tags: #vigilantejustice #WhackATroll #toodles #rudephilosophy #reconcile #update #disagree #expose #troll
Likes: 0
Replies: 0
Boosts: 0
Ramesh #NotGoingBack
If I "at" the original poster and posted a link to my existing thread like this ➡️ https://mastodon.social/@rameshgupta/113732127875416207, I'd be accused of #hijacking someone's post.
If instead, I "replied" to the original post ➡️ https://mastodon.online/@SocraticEthics/113731407465220573, and since I'm a guy, I'd be labeled #ReplyGuy because someone might consider that clarification "annoying."
Social media is fickle. Stop bothering about what people think and do what makes sense to you in good faith.
It's NOT humanly possible to earn EVERYBODY's adulation
Tags: #hijacking #replyguy
Likes: 0
Replies: 0
Boosts: 0
Ramesh #NotGoingBack
I have said from the beginning that #Hamas #Oct7 attacks were timed for #ElectionInterference in #US #Election2024.
Never has this been more obvious than now.
Members of BOTH #Arab and #Jewish diaspora in #US have ratcheted up their attacks on #Democrats since #KamalaHarris became the presumptive nominee.
I have noted at length Rashida #Tlaib's role under that hashtag. Below, I note some from the #Israeli side.
BOTH groups are holding #Harris hostage to extract concessions for their side.
⬇️
Tags: #Hamás #oct7 #electioninterference #us #Election2024 #arab #jewish #democrats #kamalaharris #tlaib #Israeli #harris
Likes: 0
Replies: 0
Boosts: 0