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Lonelypumpkins on Nostr: I've heard arguments that current economic policies can't even be classified as ...
I've heard arguments that current economic policies can't even be classified as Keynesian...
Keynesian economics stresses that governments should be the lender of last resort during a downturn/depression, and build reserves during surpluses to fund that lending. That second part has only happened for about two years in the 52 years since Nixon Shock. All we do now is run trillion dollar deficits & create dollars from nothing.
Keynesian economics stresses that governments should be the lender of last resort during a downturn/depression, and build reserves during surpluses to fund that lending. That second part has only happened for about two years in the 52 years since Nixon Shock. All we do now is run trillion dollar deficits & create dollars from nothing.