Krugman rips von Mises up one side & down the other

[Friends]

Keynesian economic policies reduced the severity of recessions,.

how is that possible? raising taxes destimulates the economy! and FDR prolonged depression for 10 years with that pure ignorance

If you look at this chart you should notice three things.

First, recessions became less severe after the election of Franklin Roosevelt, and the initiation of Keynesian economic policies.

Second, with two exceptions, every recession that began after Roosevelt's inauguration began under a Republican president.

Third, recessions began to get more serious after the inauguration of Ronald Reagan. Reagan, of course, scaled back Keynesian economic policies by cutting taxes on the rich, and encouraging companies to attack labor unions.

http://www.nber.org/cycles.html

The recession that happened from May 1937 to June 1938 happened because President Roosevelt made the mistake of reducing government spending and employment.

The recessions that happened under Richard Nixon and Jimmy Carter happened because of shortages of oil, and consequent increases in the world price of oil. Keynesian economic policies were not designed to deal with a shortage of an essential natural resource. Nothing can mitigate that. When it happens there will be an increase in unemployment, and increase in inflation, or both. Unemployment and inflation both increased in 1974 and 1980.

I have already pointed out that after the inauguration of Roosevelt, with the exception of May 1937 to June 1938 there was a steady decline in unemployment, and a steady increase in the per capita gross domestic product in 1996 dollars. Here are the websites again that document that.

United States Unemployment Rate 1920 ndash 2013 Infoplease.com

Singularity is Near -SIN Graph - Per-Capita GDP

In addition, under the Roosevelt administration, there was a steady increase in the top tax rate.

http://www.ctj.org/pdf/regcg.pdf

Your economic theories do not explain the economic history of the United States since 1932. The theories of John Maynard Keynes do. Most Americans benefit from a well financed public sector of the economy paid for by high taxes on the rich. We benefit from strong labor unions, and a high minimum wage. This is because those increase aggregate demand.

 

[Toddsterpatriot]

Keynesian economic policies reduced the severity of recessions,.

how is that possible? raising taxes destimulates the economy! and FDR prolonged depression for 10 years with that pure ignorance

If you look at this chart you should notice three things.

First, recessions became less severe after the election of Franklin Roosevelt, and the initiation of Keynesian economic policies.

Second, with two exceptions, every recession that began after Roosevelt's inauguration began under a Republican president.

Third, recessions began to get more serious after the inauguration of Ronald Reagan. Reagan, of course, scaled back Keynesian economic policies by cutting taxes on the rich, and encouraging companies to attack labor unions.

http://www.nber.org/cycles.html

The recession that happened from May 1937 to June 1938 happened because President Roosevelt made the mistake of reducing government spending and employment.

The recessions that happened under Richard Nixon and Jimmy Carter happened because of shortages of oil, and consequent increases in the world price of oil. Keynesian economic policies were not designed to deal with a shortage of an essential natural resource. Nothing can mitigate that. When it happens there will be an increase in unemployment, and increase in inflation, or both. Unemployment and inflation both increased in 1974 and 1980.

I have already pointed out that after the inauguration of Roosevelt, with the exception of May 1937 to June 1938 there was a steady decline in unemployment, and a steady increase in the per capita gross domestic product in 1996 dollars. Here are the websites again that document that.

United States Unemployment Rate 1920 ndash 2013 Infoplease.com

Singularity is Near -SIN Graph - Per-Capita GDP

In addition, under the Roosevelt administration, there was a steady increase in the top tax rate.

http://www.ctj.org/pdf/regcg.pdf

Your economic theories do not explain the economic history of the United States since 1932. The theories of John Maynard Keynes do. Most Americans benefit from a well financed public sector of the economy paid for by high taxes on the rich. We benefit from strong labor unions, and a high minimum wage. This is because those increase aggregate demand.

Most Americans benefit from a well financed public sector of the economy paid for by high taxes on the rich.

Exactly! Just look at Illinois. All the unfunded public pensions are a big benefit.

We benefit from strong labor unions

Yes! The steelworkers union and autoworkers union have been a big benefit.

and a high minimum wage.

Teenagers, especially black teenagers, have seen huge benefits from the minimum wage.
You can see that by looking at their unemployment rates.

This is because those increase aggregate demand.

I know that the higher prices (and reduced employment) in the fast food industry caused by a $15 minimum wage would certainly cause me to boost my demand for fast food.

 

[EdwardBaiamonte]

First, recessions became less severe after the election of Franklin Roosevelt, and the initiation of Keynesian economic policies.

dear, how stupid are you? FDR presided over the Great Depression and World War. His period was perhaps the worst period in human history. That liberals try to make him a hero is perfect testimony to their pure, perfect, and deadly ignorance.

 

[EdwardBaiamonte]

. Reagan, of course, scaled back Keynesian economic policies.

dear, can you identify a Keynesian policy that is not based in pure liberal ignorance?

 

[EdwardBaiamonte]

First, recessions became less severe after the election of Franklin Roosevelt, and the initiation of Keynesian economic policies.

dear, how stupid are you? FDR presided over the Great Depression and World War. His period was perhaps the worst period in human history. That liberals try to make him a hero is perfect testimony to their pure, perfect, and deadly ignorance
If he had made the Depression last 20 years would that be better still in the twisted liberal mind?
.

 

[Friends]

First, recessions became less severe after the election of Franklin Roosevelt, and the initiation of Keynesian economic policies.

dear, how stupid are you? FDR presided over the Great Depression and World War. His period was perhaps the worst period in human history. That liberals try to make him a hero is perfect testimony to their pure, perfect, and deadly ignorance.

A great leader comes to power when things could get much worse. When he leaves power things have gotten much better.

When President Roosevelt died in 1944 the unemployment rate had declined from 23.6 percent in 1932 to 1.2 percent.

United States Unemployment Rate 1920 ndash 2013 Infoplease.com

The per capita gross domestic product in 1996 dollars had increased from $4,901 in 1932 to $12,380.

Singularity is Near -SIN Graph - Per-Capita GDP

The Allies had nearly won the Second World War.

 

[Friends]

. Reagan, of course, scaled back Keynesian economic policies.

dear, can you identify a Keynesian policy that is not based in pure liberal ignorance?

Raising the average income through labor unions, and a high minimum wage. Increasing government spending and employment, paying for it by raising taxes on the rich.

Those policies increased aggregate demand. That increase encouraged private employers to hire more people to meet the demand.

 

[dcraelin]

Raising the average income through labor unions, and a high minimum wage. Increasing government spending and employment, paying for it by raising taxes on the rich.

Those policies increased aggregate demand. That increase encouraged private employers to hire more people to meet the demand.

Author Kevin Phillips, a strategist on voting patterns for Richard Nixon's 1968 campaign, wrote Arrogant Capital: Washington, Wall Street and the Frustration of American Politics (1994). In it he shows how a number of wealthy nations declined due to excessive government debt and the ease in which the rich could invest in it.

I think what we need now is a little of both Keynes and Mises. Hold the line on spending but increase taxes on the wealthy.....or at least take away the easy tax breaks they get. One easy way to do this would be to partially eliminate the tax-exemption on muni-bonds. This would also please conservatives as these funds go to funding idiotic local projects such as convention centers and sports stadiums.

 

[Friends]

Raising the average income through labor unions, and a high minimum wage. Increasing government spending and employment, paying for it by raising taxes on the rich.

Those policies increased aggregate demand. That increase encouraged private employers to hire more people to meet the demand.

Author Kevin Phillips, a strategist on voting patterns for Richard Nixon's 1968 campaign, wrote Arrogant Capital: Washington, Wall Street and the Frustration of American Politics (1994). In it he shows how a number of wealthy nations declined due to excessive government debt and the ease in which the rich could invest in it.

I think what we need now is a little of both Keynes and Mises. Hold the line on spending but increase taxes on the wealthy.....or at least take away the easy tax breaks they get. One easy way to do this would be to partially eliminate the tax-exemption on muni-bonds. This would also please conservatives as these funds go to funding idiotic local projects such as convention centers and sports stadiums.

Kevin Phillips is an interesting guy. It is common for one who is politically involved to move from left to right. He moved from right to left. Also, his book The Emerging Republican Majority, which was published in 1969, accurately explained why the United States' electorate was moving to the the right, and predicted the Republican ascension.

By contrast, The Greening of America by Charles A. Reich, and published in 1970 is obviously delusional, when read in the present.

When discussing the national debt we must keep in mind that the national debt only became a problem during the administration of Ronald Reagan because of the failure of supply side economics to balance the budget by 1983, as Reagan promised in his debate with President Carter. No credible economist thought it was possible to cut taxes, raise defense spending, and balance the budget. Unfortunately, Reagan was able to convince most voters it was possible. Most Republican voters believe it is still possible.

Republicans caused the debt crisis. Now they are using it in an effort to cut or eliminate domestic spending programs they never liked, but which are popular with the voters.

 

[dcraelin]

Raising the average income through labor unions, and a high minimum wage. Increasing government spending and employment, paying for it by raising taxes on the rich.
Those policies increased aggregate demand. That increase encouraged private employers to hire more people to meet the demand.

Author Kevin Phillips, a strategist on voting patterns for Richard Nixon's 1968 campaign, wrote Arrogant Capital: Washington, Wall Street and the Frustration of American Politics (1994). In it he shows how a number of wealthy nations declined due to excessive government debt and the ease in which the rich could invest in it.
I think what we need now is a little of both Keynes and Mises. Hold the line on spending but increase taxes on the wealthy.....or at least take away the easy tax breaks they get. One easy way to do this would be to partially eliminate the tax-exemption on muni-bonds. This would also please conservatives as these funds go to funding idiotic local projects such as convention centers and sports stadiums.

Kevin Phillips is an interesting guy. It is common for one who is politically involved to move from left to right. He moved from right to left. Also, his book The Emerging Republican Majority, which was published in 1969, accurately explained why the United States' electorate was moving to the the right, and predicted the Republican ascension.
By contrast, The Greening of America by Charles A. Reich, and published in 1970 is obviously delusional, when read in the present.
When discussing the national debt we must keep in mind that the national debt only became a problem during the administration of Ronald Reagan because of the failure of supply side economics to balance the budget by 1983, as Reagan promised in his debate with President Carter. No credible economist thought it was possible to cut taxes, raise defense spending, and balance the budget. Unfortunately, Reagan was able to convince most voters it was possible. Most Republican voters believe it is still possible.
Republicans caused the debt crisis. Now they are using it in an effort to cut or eliminate domestic spending programs they never liked, but which are popular with the voters.

Regardless of who caused the debt crisis...........I say hold the line on federal domestic spending programs.......but cut some of this stupid local spending on convention centers and stadiums.......Also outlaw the tax-exemption for tax-exempt bonds on such projects......and at least severely restrict it even in other areas....This would bring more money into the federal treasury to help pay down the debt.

 

[Friends]

Raising the average income through labor unions, and a high minimum wage. Increasing government spending and employment, paying for it by raising taxes on the rich.
Those policies increased aggregate demand. That increase encouraged private employers to hire more people to meet the demand.

Author Kevin Phillips, a strategist on voting patterns for Richard Nixon's 1968 campaign, wrote Arrogant Capital: Washington, Wall Street and the Frustration of American Politics (1994). In it he shows how a number of wealthy nations declined due to excessive government debt and the ease in which the rich could invest in it.
I think what we need now is a little of both Keynes and Mises. Hold the line on spending but increase taxes on the wealthy.....or at least take away the easy tax breaks they get. One easy way to do this would be to partially eliminate the tax-exemption on muni-bonds. This would also please conservatives as these funds go to funding idiotic local projects such as convention centers and sports stadiums.

Kevin Phillips is an interesting guy. It is common for one who is politically involved to move from left to right. He moved from right to left. Also, his book The Emerging Republican Majority, which was published in 1969, accurately explained why the United States' electorate was moving to the the right, and predicted the Republican ascension.
By contrast, The Greening of America by Charles A. Reich, and published in 1970 is obviously delusional, when read in the present.
When discussing the national debt we must keep in mind that the national debt only became a problem during the administration of Ronald Reagan because of the failure of supply side economics to balance the budget by 1983, as Reagan promised in his debate with President Carter. No credible economist thought it was possible to cut taxes, raise defense spending, and balance the budget. Unfortunately, Reagan was able to convince most voters it was possible. Most Republican voters believe it is still possible.
Republicans caused the debt crisis. Now they are using it in an effort to cut or eliminate domestic spending programs they never liked, but which are popular with the voters.

Regardless of who caused the debt crisis...........I say hold the line on federal domestic spending programs.......but cut some of this stupid local spending on convention centers and stadiums.......Also outlaw the tax-exemption for tax-exempt bonds on such projects......and at least severely restrict it even in other areas....This would bring more money into the federal treasury to help pay down the debt.

Ending local spending on convention centers and stadiums would do nothing to reduce the federal budget. Stadiums are favorites with local tax payers. A mayor who lost a ball team because he did not bribe it enough with a subsidized sports stadium would not be reelected.

Like all plans to pay off the national debt without raising taxes and/or cutting popular spending programs, yours is insufficient.

 

[dcraelin]

Raising the average income through labor unions, and a high minimum wage. Increasing government spending and employment, paying for it by raising taxes on the rich.
Those policies increased aggregate demand. That increase encouraged private employers to hire more people to meet the demand.

Author Kevin Phillips, a strategist on voting patterns for Richard Nixon's 1968 campaign, wrote Arrogant Capital: Washington, Wall Street and the Frustration of American Politics (1994). In it he shows how a number of wealthy nations declined due to excessive government debt and the ease in which the rich could invest in it.
I think what we need now is a little of both Keynes and Mises. Hold the line on spending but increase taxes on the wealthy.....or at least take away the easy tax breaks they get. One easy way to do this would be to partially eliminate the tax-exemption on muni-bonds. This would also please conservatives as these funds go to funding idiotic local projects such as convention centers and sports stadiums.

Kevin Phillips is an interesting guy. It is common for one who is politically involved to move from left to right. He moved from right to left. Also, his book The Emerging Republican Majority, which was published in 1969, accurately explained why the United States' electorate was moving to the the right, and predicted the Republican ascension.
By contrast, The Greening of America by Charles A. Reich, and published in 1970 is obviously delusional, when read in the present.
When discussing the national debt we must keep in mind that the national debt only became a problem during the administration of Ronald Reagan because of the failure of supply side economics to balance the budget by 1983, as Reagan promised in his debate with President Carter. No credible economist thought it was possible to cut taxes, raise defense spending, and balance the budget. Unfortunately, Reagan was able to convince most voters it was possible. Most Republican voters believe it is still possible.
Republicans caused the debt crisis. Now they are using it in an effort to cut or eliminate domestic spending programs they never liked, but which are popular with the voters.

Regardless of who caused the debt crisis...........I say hold the line on federal domestic spending programs.......but cut some of this stupid local spending on convention centers and stadiums.......Also outlaw the tax-exemption for tax-exempt bonds on such projects......and at least severely restrict it even in other areas....This would bring more money into the federal treasury to help pay down the debt.

Ending local spending on convention centers and stadiums would do nothing to reduce the federal budget. Stadiums are favorites with local tax payers. A mayor who lost a ball team because he did not bribe it enough with a subsidized sports stadium would not be reelected.
Like all plans to pay off the national debt without raising taxes and/or cutting popular spending programs, yours is insufficient.

Ending spending on/funding of convention centers and Stadiums WITH tax-exempt bonds,FEDERALLY tax-exempt bonds would help bring in more FEDERAL tax dollars. I dont think your right on mayors not getting re-elected either.....they maybe get some kick-backs from the developers on stadiums...which helps them advertise and campaign....but if put to votes these stadiums would fail......thats why Minnesota tried so hard to avoid a vote on their idiotic stadium funding.

 

[Uncensored2008]

Yes. People who visited Germany after Hitler's take over reported, "You could see that things were getting better." The shops and restaurants were full. People had money to spend for a change.

Hitler was evil, but for other reasons. The economic recovery of Germany after the Nazis came to power demonstrates the potential of a command economy that is not waiting for businessmen to start hiring.

Or perhaps it was simply that Germany ceased paying the crushing reparations when Hitler came to power.

Sigh, the shit you Communist fling out prove that you have no knowledge of economics, or history.

 

[CrusaderFrank]

First, recessions became less severe after the election of Franklin Roosevelt, and the initiation of Keynesian economic policies.

dear, how stupid are you? FDR presided over the Great Depression and World War. His period was perhaps the worst period in human history. That liberals try to make him a hero is perfect testimony to their pure, perfect, and deadly ignorance.

A great leader comes to power when things could get much worse. When he leaves power things have gotten much better.

When President Roosevelt died in 1944 the unemployment rate had declined from 23.6 percent in 1932 to 1.2 percent.

United States Unemployment Rate 1920 ndash 2013 Infoplease.com

The per capita gross domestic product in 1996 dollars had increased from $4,901 in 1932 to $12,380.

Singularity is Near -SIN Graph - Per-Capita GDP

The Allies had nearly won the Second World War.

You ever hear of WWII?

 

[Friends]

First, recessions became less severe after the election of Franklin Roosevelt, and the initiation of Keynesian economic policies.

dear, how stupid are you? FDR presided over the Great Depression and World War. His period was perhaps the worst period in human history. That liberals try to make him a hero is perfect testimony to their pure, perfect, and deadly ignorance.

A great leader comes to power when things could get much worse. When he leaves power things have gotten much better.

When President Roosevelt died in 1944 the unemployment rate had declined from 23.6 percent in 1932 to 1.2 percent.

United States Unemployment Rate 1920 ndash 2013 Infoplease.com

The per capita gross domestic product in 1996 dollars had increased from $4,901 in 1932 to $12,380.

Singularity is Near -SIN Graph - Per-Capita GDP

The Allies had nearly won the Second World War.

You ever hear of WWII?

Military spending and employment is government spending and employment. I am glad that the United States entered in World War II. However, if the government had spent the money domestically the benefits to the economy would have been greater than they were.

 

[CrusaderFrank]

First, recessions became less severe after the election of Franklin Roosevelt, and the initiation of Keynesian economic policies.

dear, how stupid are you? FDR presided over the Great Depression and World War. His period was perhaps the worst period in human history. That liberals try to make him a hero is perfect testimony to their pure, perfect, and deadly ignorance.

A great leader comes to power when things could get much worse. When he leaves power things have gotten much better.

When President Roosevelt died in 1944 the unemployment rate had declined from 23.6 percent in 1932 to 1.2 percent.

United States Unemployment Rate 1920 ndash 2013 Infoplease.com

The per capita gross domestic product in 1996 dollars had increased from $4,901 in 1932 to $12,380.

Singularity is Near -SIN Graph - Per-Capita GDP

The Allies had nearly won the Second World War.

You ever hear of WWII?

Military spending and employment is government spending and employment. I am glad that the United States entered in World War II. However, if the government had spent the money domestically the benefits to the economy would have been greater than they were.

Huh?

What the fuck did we do between 1933 and 1940?

 

[EdwardBaiamonte]

When President Roosevelt died in 1944 the unemployment rate had declined from 23.6 percent in 1932 to 1.2 percent.

dear, that is becuase millions of soldiers are not considered unemployed!! Anybody can start a war and drop unemployment to 0%.

See why we say liberalism is based in pure ignorance?

 

[CrusaderFrank]

So that why Krugman want us to fund the defense of an imaginary Outer Space Alien Invasion!

 

[Friends]

When President Roosevelt died in 1944 the unemployment rate had declined from 23.6 percent in 1932 to 1.2 percent.

dear, that is becuase millions of soldiers are not considered unemployed!! Anybody can start a war and drop unemployment to 0%.

See why we say liberalism is based in pure ignorance?

I have already pointed this out. Military spending and employment is government spending and employment. Although I am glad that the United States entered World War II, if the government had spent the money on the public sector of the economy, the benefits would have been greater.

 

[Friends]

Huh?

What the fuck did we do between 1933 and 1940?

Your low class vulgarity does not make your argument impressive. Instead it reveals your bad breeding and poor education.

The unemployment rate in 1933 was 24.9%.

The Great Depression Statistics

In 1940 the unemployment rate 14.6 %.

United States Unemployment Rate 1920 ndash 2013 Infoplease.com

In 1933 the per capita gross domestic product in 1996 dollars was $4,804. In 1940 this had grown to $7,423.

Singularity is Near -SIN Graph - Per-Capita GDP