Quote:
Originally Posted by Joekerr
I think too often our current governments have adopted a partial Keynesian approach to economics. In that they fully grab hold of part of his theory - that being to encourage the government to spend to spur growth, but completely ignore the other (and equally critically important) part which is to act counter-cyclically to the market and save when it is good, to cool the growth. Such that the objective is overall not to run an accumulated deficit. But no one does that, and everyone seems to have become so dependant on government programs that I feel this tool is not much of a lever to press anymore.
I suppose in some respect I like Keynes' approach and theory, though not all of it. I do think there are moral factors such as laziness which contribute to unemployment.
Generally speaking, I support more of a private sector influence in the market and a reduced government influence (while acknowledging that government is still needed - I simply want it smaller). But which government would actually voluntarily reduce itself? Partially why I think I should run for politics, but realistically, I have little interest and see little personal reward.
|
What entity would voluntarily would reduce itself?
Quote:
Originally Posted by Biorin
I would say that most government economists are Keynesian. This is nowhere near a Hayek model - saying that it exists solely to push one type of agenda is a bit of an overreach. It is the attempt of many to understand and explain a behavior. Some choose to implement policy based on the understanding that they have developed.
|
No it's not, it's literally an agenda driven research, driven by the thought that people are not only selfish, but operate rationally selfish manor.
And it's why they Hayek model isn't one that is beneficial to most people.