Charles Brown: > Keynesian economics (even Krugman ) does not > provide an adequate economic program for the working class, because > its logic counsels retaining a high level of military spending to > stimulate out of the double dip Great Recession.
at least in theory, Keynesianism does not require a high level of military spending. In the US, however, Keynesianism has been military in its emphasis _in practice_, since military spending is politically more acceptable than civilian spending. (In the "Golden Age" of US Keynesianism, building the transcontinental freeway system was justified in terms of military goals, while much of the era's policies relied on the GI Bill.) In Western Europe, under social democracy, Keynesian policy was less military in its emphasis. > The US only got out > of the Great Depression when it started stupendous spending for WWII ( > James Devine) I am hardly the only one who says this. I deserve no credit or blame. -- Jim Devine / "As far as the laws of mathematics refer to reality, they are not certain; and as far as they are certain, they do not refer to reality." -- Albert Einstein _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
