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Random.Capital

Registered: Jan 2005
Posts: 3848

09-21-12 07:11 PM

Quote from McFadden5252:

Can somebody in detail break down the difference between European Socialism versus Keynesian Economics being displayed in America today?

The US doesn't practice Keynesian economics.

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Grandluxe

Registered: Aug 2006
Posts: 2461

09-21-12 07:12 PM

European socialism was borne out of the terrors of WW2. It is a totally different animal that can never be applied to the USA.

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McFadden5252

Registered: Jun 2012
Posts: 32

09-21-12 08:22 PM

Quote from Random.Capital:

The US doesn't practice Keynesian economics.

The Government has been applying Keynesian intervention now for decades. Look at all the bailouts and Quantitative Easings. These are all contributing to the altering of our economy. More examples: bailing out Amtrak, subsidizing college loans and the creation of price floors, price ceilings, rent control, etc.

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piezoe

Registered: Jan 2006
Posts: 4954

09-21-12 08:36 PM

Quote from Random.Capital:

The US doesn't practice Keynesian economics.

I'm guessing that you mean by that the U.S. doesn't practice the other half, where in boom times we are suppose to either cut spending or raise taxes. If that is the case, I would have to agree with you: we don't follow Keynes, we follow the part we like and reject the part we don't. Unfortunately the part we reject is needed to make it work as intended.

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Salmon

Registered: May 2000
Posts: 78

09-21-12 08:45 PM

Germany eliminated all competitors in Europe and now go bankrupt.

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McFadden5252

Registered: Jun 2012
Posts: 32

09-21-12 09:49 PM

Quote from piezoe:

I'm guessing that you mean by that the U.S. doesn't practice the other half, where in boom times we are suppose to either cut spending or raise taxes. If that is the case, I would have to agree with you: we don't follow Keynes, we follow the part we like and reject the part we don't. Unfortunately the part we reject is needed to make it work as intended.

I don't support Keynesian Economics but picking pieces of it is probably a lot less effective. The thing is.. Raising taxes is political suicide.

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