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To: Kartographer

The real danger is not following the ideology of Marx, but of Keynes.


13 posted on 02/16/2014 6:24:23 PM PST by PGR88
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To: PGR88
The real danger is not following the ideology of Marx, but of Keynes.

50+ years ago I was taught Keynesian economic theory. It sounded very logical but I can recall telling the professor that it was flawed in real life, for one simple reason! All governments seek to keep their "subjects" from overthrowing them (either through elections or revolutions) thus, they ALWAYS spend more than they have.

Keynes had a simple adaptation of the Biblical admonition of storing provisions during the "7 years of plenty" to tide one over during the "7 lean years". Governments NEVER do this, they only adhere to Keynesian spending, NEVER saving.

Human nature being what it is, Keynes' theories do not work in the long run (but then he is often quoted as quipping that, "in the long run we are all dead!"

24 posted on 02/17/2014 4:31:02 AM PST by ExSES (the "bottom-line")
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