Doug wrote:
>
... Charlie wrote:
> As for Keynesian fiscal policy on a big scale -- we can't go back
to it.
<
I doubt that you really know what you mean by this.
<
Well, I certainly make no pretension to know what is in your head. But
to return to the political economic question, Keynesian fiscal policy of
the type you suggest was feasible when it generated enough industrial
jobs to make a difference. It was profitable to capital as well as
bringing the economy near full employment for awhile. The conditions of
that overlap have disappeared.
Brief posts on this list will not get us far, but thank you for letting
a serious issue claw through the usual exchanges of sarcasm. For some
others, the clarion call seems to be, "The perfect light bulb emits all
heat and no light!"
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