Mastodawn

Emeritus Prof Christopher May Jan 10, 2025

The hypocrisy of fiscal economics:

When there is a crisis in the real economy, we are told austerity is needed to restore confidence & encourage growth - the neo-classical economic solution.

When there is a crisis in the financial serves sectors we are told what is needed is liquidity & stimulus to restore confidence & encourage growth - a (narrow form of) Keynsian response.

So its not so much Keynes has been rejected, but rather its only applicable when the rich are in trouble!

#economics

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Dan Hatton Jan 10, 2025

@ChrisMayLA6 TBF, the same government that launched the post-2008-financial-crisis stimulus and liquidity packages also, a few years earlier, successfully used a Keynesian stimulus to prevent the dot-com recession reaching Britiain.

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Dan Hatton

@ChrisMayLA6 It is an ever-increasing source of astonishment to me that Gordon Brown doesn't defect to the SNP. Not only does he have nothing at all in common on policy with the current leadership of the Labour Party, he's been made to look like a liar by the unionist campaign of 2014 getting him to front "The Vow" then going section-35 on critical civil rights policies.