Lakshmi Rhone wrote: > http://www.project-syndicate.org/commentary/feldstein37/English > actually some interesting stats; interesting that the whole analysis rests > on underconsumptionist premises.
Feldstein's piece seems very much like standard, mainstream, Keynesianism (which is weird for a hard-core conservative like him). It's not "underconsumptionist." Keynesianism doesn't just look at C as driving the economy. Instead, it's C+I+G+NX. In the current juncture, with accumulation (and I) blocked, C and G are dominating. Strangely, MF doesn't talk about NX. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
