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Keynes himself said that
Posted by Reality (more from Reality) on Fri, 6 May 2011 12:00:56
In Reply to: He doesn't deal in "reality", No Snaab, Fri, 6 May 2011 11:17:12
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his program of government interventionism would work better in the collectivist countries like Germany than in a western democracy, in the preface to the German version of his "General Theory" published in the late-1930's. Germany actually had been practicing Keynesianism before Keynes even wrote the book.
The free-market advocates are not idle theorists here. Many formerlly centrally planned economies have embraced free market reforms in the last 20-40 years phased out old government owned enterprises; their economic growth has far surpassed their former self under central planning. The Keynesian government interventionists however are the theorists, and their plans never really worked well anywhere it's been tried since the early 1700's John Law's fiat system.
A 55yr old union worker at GM or Chrysler should have paid off their homes as they usually start before age 25. Bailing out those zombie companies decade after decade is the reason why Detroit real estate has completely collapsed, as there isn't much of an environment for new businesses in the shadows of those big resource wasters. The situation is rather similar to the former soviet big industrial combines in the late 1980's: sure the "jobs" were secure, as in "they pretend to pay us, and we pretend to work."
The worker would have been better off if he had gotten out of the system at 45, if not 35. Even at 55, it's better to find a new and more productive job than finding himself stuck again with the zombie company finally kicking the bucket when he is 65. The whole game seems to be waiting for the day when union membership dwindle to a level where their votes no longer matters . . . meanwhile the politicians enrich themselves and their banking friends as much as possible in the name of helping the no-so-poor workers who are making multiple times as much as average workers. . . all at the expense of taxpayers, of course.
posted by 76.118.39...
Posts in this Thread:
- Car company bailouts, No Snaab, Thu, 5 May 2011 13:19:51
- GM to add 4,000 jobs, duking it out with Toyota, No Snaab, Wed, 11 May 2011 07:58:09
- Important to see the big picture, Noel, Fri, 6 May 2011 06:16:54
- Doubly Ironic, Reality, Fri, 6 May 2011 07:00:56
- So why don't you tell us, Noel, Fri, 6 May 2011 09:45:54
- He doesn't deal in "reality", No Snaab, Fri, 6 May 2011 11:17:12
- Re: So why don't you tell us, Reality, Fri, 6 May 2011 10:46:21
- You didn't answer the questions, Noel, Fri, 6 May 2011 11:17:54
- Re: You didn't answer the questions, Reality, Fri, 6 May 2011 11:43:04
- Re: You (still) didn't answer the questions, Noel, Fri, 6 May 2011 12:49:13
- He won't answer, No Snaab, Fri, 6 May 2011 14:12:45
- What is Heaven like?, Reality, Fri, 6 May 2011 15:04:00
- less vs more vs balance, James, Fri, 6 May 2011 15:31:40
- Balance is okay, Reality, Fri, 6 May 2011 16:10:30
- What color is the sky in your world?, Noel, Fri, 6 May 2011 16:24:48
- Blue, Black, Grey, White, Orange, Pink, Red,, Reality, Fri, 6 May 2011 16:46:55
- So without the government stepping in, Noel, Fri, 6 May 2011 19:55:24
- Re: Blue, Black, Grey, White, Orange, Pink, Red,, James, Fri, 6 May 2011 18:11:52
- False Choice, Reality, Fri, 6 May 2011 13:33:38
- Re: So why don't you tell us...Been there done that an, Joeychess, Fri, 6 May 2011 10:22:45
- That's fiscally responsible and also well stated yet, Joeychess, Fri, 6 May 2011 08:19:33
- Re: Important to see the big picture...Well said n/m, Joeychess, Fri, 6 May 2011 06:22:03
- Don't kid yourself, BTG88, Thu, 5 May 2011 21:59:15
- Gov't role in today's economy, adl6009
, Thu, 5 May 2011 19:17:20 - Ironic timing, "new" GM is caught stuffing channel, Reality, Thu, 5 May 2011 13:41:26
- Macro econ. vs the guy at the plant, AlS, Thu, 5 May 2011 18:16:21
- Keynesianism is Macro Econ, duh!, Reality, Thu, 5 May 2011 18:27:34
- "I address car topics under a different user name.", Steve T., Fri, 6 May 2011 08:02:22
- Keynes vs. Keynes..., James, Fri, 6 May 2011 06:49:05
- Re: Keynesianism is Macro Econ, duh!, kkelley, Thu, 5 May 2011 20:37:44
- Apparently stuffing the distribution channel works, Paul B., Thu, 5 May 2011 16:33:57
- Re: Ironic timing, "new" GM is caught stuffing channel, kkelley, Thu, 5 May 2011 14:50:16
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