Jim Devine writes: "The GOP is officially "supply-sider" these days, but in practice that kind of policy implies using Keynesian deficits (using tax cuts, mostly for the rich) to stimulate demand. It's not a very efficient or ingenuous kind of Keynesianism, but it's Keynesian nonetheless."
I don't think this is an analytically useful statement. Just because Keynesians advocate deficit financing under certain circumstances (which is all circumstances as interpreted by the political process), and the GOP generally believe lower tax rates is a higher priority than balanced budgets, that does not mean the GOP are practical Keynesians. Give me one example whether a GOPer advocated lower rates on the rich to stimulate aggregate demand. There is a huge qualitative difference being in favor of deficits as a policy (stimulate aggregate demand) and tolerating a deficit to support a different policy (lower marginal rates to increase willingness to risk and produce). Just because a bat flies does not make it a bird. David Shemano _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
