Demand-side economics, properly applied. At least Keynesianism has a comprehensive working theory rather than just a dogmatic ideology.
Give me an example of where this has worked. Ignoring supply-side caused shortages, lower wages, and higher prices. You're limiting competition and creating monopolies. But feel free to get me examples of demand-side working. Cambodia, Venezuela, Cuba are all great examples. Eventually it leads to confiscation of wealth.
It's that type of shit that's useless. I can imagine the tears crashing to the keyboard as you rage-type. No facts. Just dumb garbage. Your brains are a scary place to be. Hopefully i'm not at the supermarket or post office on a day when life just gets to be too much for you nutjobs.
Show me an example of Austrian economics working. Kansas, you say? Well, the Mises people regard that debacle as a “success.” https://mises.org/mises-wire/why-kansass-tax-cut-failure-really-success lol
https://www.google.com/search?q=exa...mics&ie=UTF-8&oe=UTF-8&hl=en-ca&client=safari A prime example of successful Keynesian economics in action is the United States' response to the Great Recession of 2007-2009. President Obama's American Recovery and Reinvestment Act of 2009, a $787 billion government stimulus package, aimed to combat the crisis by boosting aggregate demand through increased government spending and tax cuts. While some debate its exact effectiveness, many economists agree that it helped lower unemployment rates and prevent a deeper economic downturn, says a article on MasterClass. Here's a more detailed look: The Great Recession Context: The global financial crisis of 2007-2008 led to a severe economic downturn in the US, with significant job losses and reduced economic activity. Keynesian Response: The Obama administration, drawing on Keynesian principles, implemented the American Recovery and Reinvestment Act, a large-scale government stimulus package. Stimulus Measures: The act included: Increased Government Spending: Allocating funds to various sectors, including infrastructure, healthcare, education, and unemployment benefits, according to Investopedia. Tax Cuts and Credits: Providing tax relief for families and businesses to boost consumer spending and investment. Effectiveness: While the stimulus's exact impact is a subject of ongoing debate, most economists agree that it helped stabilize the economy and prevent a more severe recession. Keynesian Principles in Action: The stimulus package exemplifies the core tenets of Keynesian economics: Government Intervention: The government actively intervened in the economy to counter the downturn. Increased Aggregate Demand:The stimulus measures aimed to boost consumer and business demand, driving economic activity. Managing Recessionary Gaps:The package sought to close the gap between potential and actual output, notes an article on Study.com.
The problem with Keynesian Economics is you are suppose to raise taxes or duties in the up cycle to fund the stimulus in the down cycle. I think only Clinton really did that. I'm not sure about Obama, however. Biden was an MMT addict.
Trump's programs are very scatter brained. The UK has used tariffs and to a larger extent VAT as a protectionism and to spur domestic manufacturing and self sufficiency. They used it all thru the 1990s up to day. It never worked. It just added more burden to the consumer. It never brought back manufacturing. In order to save jobs and existing manufacturing, UK had to make it very hard for manufacturers to leave. Very hard to layoff mass numbers. Believe it or not, most Land Rovers, Mini Cooper, Rolls, Bentley and Jaguar are still made in UK...mostly because they made it very hard for them to off-shore However today, in the UK, manufactured products are mostly imported and very expensive because of VAT. Many manufacturers were able to off-shore. Inflation stays low only because most jobs are govt or small business (service) and the wages never grow much. However, housing is massively priced. Cars are also very expensive. So there is high undefined inflation but with wages stagnant. And immigration continues to flood the market with more job applicants and continues to put pressure on food, housing, transportation prices. US is in pretty much the same spot. Trumps programs will just aggravate prices and costs for most consumers. Most of what hes doing should have been done back in the 1990s. Its far too late to change this off shore dynamic. Hes just making things very unstable. Its very much akin to UK leaving the EU (particularly the US breaking away from NAFTA) . Terrible follow on results and a protectionist, isolated UK resulted. Wages will probably drop some and then become stagnant. But costs and consumer burden will stay very very high. With $39 trillion in debt, there is no way Trump can replace income taxes with tariff receipts. And, to be sure, high tariffs will just reduce consumption to a great extent, which is what happened in UK. Most of the things americans love will become too expensive to afford. The technology that we love will become out of our reach due to very very high costs. We will lose our technology edge. We invent and develop advanced technology because there is a huge market in the US and there is very high reward. If you take this consumer demand away, it will kill research and development in technology.
Damn i can agree to everything you said. Its true. I'm not fan of Powell either and I'm really laughing at the fact that trump thinks he can just ask for rate cuts.....if the fed cuts we will be in even worse economic shape than we are now...