And now they can have it on steroids and in perpetuum under the guise of pandemic
Keynesianism serves -- and is developed and exploited -- as windowdressing for irresponsible spending. Corporate responsibility falls in the same category. It's fine to argue that a philosophy is necessary politically, but distinguish that from the philosophy's actual coherence.
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Keynesianism was a reaction to the monetary deflation of the 1930s, just as MMT is a reaction to the monetary deflation of the past 12 years. Deficits create USD liquidity, so if the Fed doesn't do its job, pressure builds for actions that will cause the Treasury to issue USTs.
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Even Keynes said you, eventually, have to pay it back.
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I don't understand your last sentence re distinguishing a philosophy's coherence from it being necessary politically.
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Its the difference between "I read Keynes and his ideas are obviously true" and "i want to believe that the government can spend infinite money on corrupt projects with no repercussions, and Keynes says that's true in an academicky way"
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