-----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of Doug Henwood Sent: Friday, January 30, 2015 8:54 AM To: Progressive Economists Network Subject: Re: [Pen-l] The political earthquake in Greece
Non-Hebdo Charlie <[email protected]> wrote: > As for Keynesian fiscalpolicy on a big scale -- we can't go back to it. I doubt that you really know what you mean by this. Are you talking about vulgar countercyclical deficit spending? Or the state guidance of investment, which Keynes wrote about, though not in enough detail? He advocated that in the midst of an economic crisis far worse than the present, so I don't get the critique that I frequently hear that somehow this is the wrong time for that sort of thing, because, why? The economy is structurally troubled? That's the whole point of getting the state involved in investment - especially since big corporations have vast amounts of cash on their balance sheets that they're not investing. It's not like profits are hard to come by, FROPpers to the contrary. A Green New Deal may be uninspiring compared to Full Communism Now, but it looks like a pretty decent second best to me. - Doug ======== Assuming Doug is abstractly correct here, that the 'solution' he offers would, _if adopted_, bring about a global recovery, I do not see _any_ political power that could implement the policy advocated. The premise of what is being argued in this thread is that An Economic Crisis EQUALS A Capitalist Crisis. I see no evidence of that anywhere. Carrol _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
