This guy explains economics very well. Watch thru the whole thing
https://www.youtube.com/watch?v=X3L0_pjRdcs
supply & demand is true for labor also
Rampant Unionizing & Wage-fixings promoted by Hoover in the 1930s prevented wages from falling at the outset of the Great Depression
Prevented failing businesses from hiring cheaper labor to stay afloat
Led to massive & prolonged unemployment
American workers were told, "ye are worth way more", and believing so, they priced themselves out of employability -- in economic effect, people were "on principle" refusing to work... in the middle of the Great Depression
Businesses which could just barely afford to pay labor inflated Union wages had to inflate their prices, passing the costs onto their customers
Wages & Prices could not fall as much as actual market forces "wanted" -- John Maynard Keynes noticed and termed the same "sticky" Wages & Prices
Democrats....
"What causes a recession or depression?" Govt interference f any kind.
Quote from: Solar on January 20, 2021, 04:11:01 AM
"What causes a recession or depression?" Govt interference f any kind.
2 kinds of intervention -- economic
vs. political, taxing/spending
vs. rules & regs
rules & regs legislate Government officials into private board rooms & business planning sessions
Conversely, according to John Maynard Keynes, under certain circumstances, Government "Fiscal" policy (decreasing taxes & increasing spending on large Public Works super-projects) can boost the economy, under certain circumstances...
That's in theory, in practice "Keynes" is used as an excuse & pretext for more
political rules & regs, not the purely Fiscal
economic policies he actually advocated
Quote from: TEFLing on January 20, 2021, 12:29:52 PM
2 kinds of intervention -- economic vs. political, taxing/spending vs. rules & regs
rules & regs legislate Government officials into private board rooms & business planning sessions
Conversely, according to John Maynard Keynes, under certain circumstances, Government "Fiscal" policy (decreasing taxes & increasing spending on large Public Works super-projects) can boost the economy, under certain circumstances...
That's in theory, in practice "Keynes" is used as an excuse & pretext for more political rules & regs, not the purely Fiscal economic policies he actually advocated
In some way it might be a good thing reps cant get blamed for the coming disaster. Spending is totally out of control with more huge stimulus bills coming.
Quote from: TEFLing on January 20, 2021, 12:29:52 PM
2 kinds of intervention -- economic vs. political, taxing/spending vs. rules & regs
rules & regs legislate Government officials into private board rooms & business planning sessions
Conversely, according to John Maynard Keynes, under certain circumstances, Government "Fiscal" policy (decreasing taxes & increasing spending on large Public Works super-projects) can boost the economy, under certain circumstances...
That's in theory, in practice "Keynes" is used as an excuse & pretext for more political rules & regs, not the purely Fiscal economic policies he actually advocated
Why in the fuck would you post something a moron said, John Maynard Keynes has always promoted Marx ideals which has Zero to do with reality!
Like I said, Govt Interference of any kind~
I think we will see a rather sharp decline as soon as the dems radical agenda is combined with the already out of control spending.
Quote from: ldub23 on January 21, 2021, 06:42:55 AM
I think we will see a rather sharp decline as soon as the dems radical agenda is combined with the already out of control spending.
feeding frenzy
Quote from: Solar on January 21, 2021, 05:46:57 AM
Why in the fuck would you post something a moron said, John Maynard Keynes has always promoted Marx ideals which has Zero to do with reality!
Like I said, Govt Interference of any kind~
You're a better economist than Keynes? Who else thinks so?
Keynes' name has been used to promote politics he himself never advocated
Quote from: TEFLing on January 21, 2021, 03:15:39 PM
You're a better economist than Keynes? Who else thinks so?
Keynes' name has been used to promote politics he himself never advocated
Are you serious? No economist with any credibility would ascribe to his leftist bull shit! Don't believe me? Look it up yourself, the guy despised the idea of a truly free mkt, he is of the belief economies only function when govt intervenes, the exact opposite of "Free Mkt"!
Quote from: ldub23 on January 21, 2021, 06:42:55 AM
I think we will see a rather sharp decline as soon as the dems radical agenda is combined with the already out of control spending.
Millions for "gender studies" in foreign countries could be construed as an attempt to "export socialism" abroad, a sort of "soft Stalinism" in the sense of Stalin claiming the USSR was a beachhead for the proletariat from where to export "socialism from one country" to the rest of the world.
If so, not only will Americans wind up poorer, and possibly the laughing stock of the world, but foreign violent extremists could well claim America is being a "cultural imperialist" and use the expenditures to "justify" further anti-American rhetoric or worse
Quote from: TEFLing on January 21, 2021, 03:15:39 PM
You're a better economist than Keynes? Who else thinks so?
Keynes' name has been used to promote politics he himself never advocated
https://fee.org/articles/the-failure-of-keynesian-economics/ Far too many to list here.
Quote from: Possum on January 23, 2021, 04:07:22 AM
https://fee.org/articles/the-failure-of-keynesian-economics/ Far too many to list here.
I don't blame him, it's probably all he was taught in school. We really need to gut the college system of the fuckin Marxist Profs.
Reagan reduced taxes and increased deficit spending
Supposedly that brought the US economy out of 1970s stagflation and outspent the Soviet union into bankruptcy
Congratulations Keynes?
Quote from: TEFLing on January 25, 2021, 01:54:25 AM
Reagan reduced taxes and increased deficit spending
Supposedly that brought the US economy out of 1970s stagflation and outspent the Soviet union into bankruptcy
Congratulations Keynes?
Reagan was forced by a Dim House and Senate, or he'd never have accomplished a single thing as President.
I know you're young and all you were taught was that Keyne's was the bees knees, when in fact, he's a watered down version of Marx.
If you want to actually understand what a real economist thinks, look up
Milton Friedman, the man was simply brilliant. Even though he died recently, there are a ton of his videos out there where he talked to college kids just like you, and they were shocked by just how deceived they were by their Marxist Profs.
I'd help by posting links, but I'm losing my signal due to a snowstorm so everything is sloooow..
Keynesian economics could also be employed in US labor markets.
Rather than be given unemployment payments, unemployed workers could be hired to work on Government organized work projects (say) rebuilding crumbling US infrastructure. Government work projects, as a "safety net" but not primary source of jobs, might not (say) pay as much as private sector jobs. But some income is better than none, and it would be a "patriotic contribution" to society as well.
The projects could be organized by the Government but farmed out to private contractors on a bidding basis.
There is plenty of productive work to do, e.g. plenty of infrastructure to repair. Lots of work + lots of workers = no unemployment (if public works projects paid a truly competitive market "price" for labor = wages)
Quote from: TEFLing on January 29, 2021, 06:38:56 AM
Keynesian economics could also be employed in US labor markets.
Rather than be given unemployment payments, unemployed workers could be hired to work on Government organized work projects (say) rebuilding crumbling US infrastructure. Government work projects, as a "safety net" but not primary source of jobs, might not (say) pay as much as private sector jobs. But some income is better than none, and it would be a "patriotic contribution" to society as well.
The projects could be organized by the Government but farmed out to private contractors on a bidding basis.
There is plenty of productive work to do, e.g. plenty of infrastructure to repair. Lots of work + lots of workers = no unemployment (if public works projects paid a truly competitive market "price" for labor = wages)
Try some of tis guys videos...
Milton Friedman
NYC targeting small business owners, ticketing their vehicles for parking around illegal sidewalk vendors unlawfully squatting in front of their stores, then refusing to pursue or prosecute shop-lifters. $15 minimum wage will wipe them out even more
https://www.youtube.com/watch?t=15&v=cw1t_quv1bA
Quote from: TEFLing on January 29, 2021, 06:38:56 AM
Keynesian economics could also be employed in US labor markets.
Rather than be given unemployment payments, unemployed workers could be hired to work on Government organized work projects (say) rebuilding crumbling US infrastructure. Government work projects, as a "safety net" but not primary source of jobs, might not (say) pay as much as private sector jobs. But some income is better than none, and it would be a "patriotic contribution" to society as well.
The projects could be organized by the Government but farmed out to private contractors on a bidding basis.
There is plenty of productive work to do, e.g. plenty of infrastructure to repair. Lots of work + lots of workers = no unemployment (if public works projects paid a truly competitive market "price" for labor = wages)
Yes, yes....we could have the government ban backhoes in order to issue shovels to more government workers....
WTF.....
Quote from: TEFLing on February 06, 2021, 12:56:22 AM
NYC targeting small business owners, ticketing their vehicles for parking around illegal sidewalk vendors unlawfully squatting in front of their stores, then refusing to pursue or prosecute shop-lifters. $15 minimum wage will wipe them out even more
https://www.youtube.com/watch?t=15&v=cw1t_quv1bA
You just proved my point, that govt causes recessions.