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19730725 No.19730725 [Reply] [Original]

Someone fucking explain to me how John Maynard Keynes became so fundamental in terms of Governments monetary policy and people like Milton Friedman and Friedrich Hayek were so fucking overlooked.

>> No.19730766

>>19730725
if they can steal from the poor its all good.

>> No.19730858

when you're 5'2" what do you expect? Not many people who can underlook that height

>> No.19730880

>>19730725
Keynes was a paedo. He helped other kiddyfiddlers justify taking money from normal folk

>> No.19730905

>>19730725
>(((Keynes)))
You tell me.

>> No.19730948

>>19730725
It's simple. Governments want to be reelected. Banks want to print money for themselves. Governments go along with the narrative of Keynes cause it means they can promise more each election cycle. No one will vote for the guy that says we are gonna cut your benefits. So here we are.

>> No.19730977

>>19730725
What? Milton Friedman literally advised Reagan and Thatcher and designed Chile's economic policies. Governments don't follow Keynes at all - the deficits and debts should tell you that.

>> No.19731104
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19731104

>>19730725
>>19730766
>>19730858
>>19730880
>>19730905
>>19730948
>>19730977
>try to make economic bubbles less severe
>try to make economic depressions less severe
>NOOOOOOOOO YOU CAN'T DO THAT!!!! THE ECONOMY IS SUPPOSED TO MAKE YOU SUFFER!!!!!!!!!!!!

>> No.19731318

>>19731104
Nice troll but the reality is that a properly functioning market needs mechanisms to clear out non-competitive businesses. It’s like a forest ecosystem needs forest fires to maintain itself. Call it creative destruction

>> No.19731438

>>19730725
Modern economics isn't really strictly keynesianism. Closer to the Chicago school. It's just bs that (((Austrian))) economists try to sell because they're mad that gold isn't a collect free monies hodl anymore

>> No.19731460

>>19730725
The government isn't spending the money that the Fed prints so basically what we have is a subversion of what Keynes advocated. It's private banks controlling everything.
As for Milton Friedman his idea of the ideal economy is just letting Amazon, Apple, Facebook and other gloablist sellouts run the country into the ground.

>> No.19731476

>>19731318
In reality Austrian economics wouldn't remove productive businesses, it would do the opposite. Holds would be insanely profitable especially in a downturn and literally doing nothing/waiting for deflation and gobbling up any assets you can find once prices drop would be insanely profitable and it produces nothing of value

>> No.19731498

>>19731476
Unproductive businesses*

Austrian economics in a real economic ecosystem is just a race to see who has the most liquidity

>> No.19731701

>>19730725
>Milton Friedman

Wasn't overlooked at all. His theory on monetary policy and central banking is the basis of what today's central bankers do. He was also instrumental in abolishing conscription in the US, and his ideas helped establish charter schools. And as >>19730977 said, his policies were what enabled the US under Reagan and the UK under Thatcher to shift away from socialism.

>Hayek

Because he was always more of a political theorist than an economist. His work on the role of information in markets is widely accepted and taken for granted in mainstream economics, though.