5) Keynsian theory has fallen out of favor, being relegated to a possible response to serious recession or depression. My Econ 101 back in the late 1980s and popular reporting on economics over more than the last twenty years emphasize the importance of Hayak-Freedman neo-liberal economic policies--including low tax burdens, hence, limited opportunity for trickle-up redistributive policies.
Ummm....
The richest parts of the United States are those that have invested the most in public services--of all kinds. New York, California, Massachusetts, Pennsylvania, et cetera are all high-tax high-service states. We are certainly getting *something* out of our investments in roads, bridges, harbors, education, research and development, and so forth...
Brad DeLong
I'll have more to say, but about PA: What? The argument in the newspapers here is how low our taxes are compared to the surrounding states (except Del and WV) and all the services we lost during the current budget crunch. Our roads are horrible, 75% of the bridges are just at their rated weight limits with (not a small percentage, 35%?) needing complete replacement, the state is very low in funding higher education (something that does not bother me), even with subsidies we are still losing businesses.
Kevin T. - VRWC Gotta work
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