Three! Three! Three! Krugman says, "It's time to raise Keynes: we need big fiscal stimulus, now now now."
http://krugman.blogs.nytimes.com/2008/11/07/gurk-zirp/ What part of the word "three" don't these stimulus addicts understand? One: investment. Two: expanded consumption. Three: working less. What John Maynard Keynes wrote. In May 1943. "The Long-Term Problem of Full Employment." In the final phase of post-war economic performance, "It becomes necessary to encourage wise consumption and discourage saving,--and to absorb some part of the unwanted surplus by increased leisure, more holidays (which are a wonderfully good way of getting rid of money) and shorter hours." But talking about shorter hours is anathema to post-Samuelson Anglo-American economists. Why? You need to talk about ingredient three, Paul. NOW NOW NOW. -- Sandwichman _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
