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Reply #28: Agreed [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009)

julianer

(964 posts) Send PM | Profile | Ignore

Thu Jun-23-05 03:42 AM
Response to Reply #27

28. Agreed

I'm not saying that Keynesianism caused the economic trouble of the '70's but that it was not sufficient to deal with it.

We have a hidden Keynesianism in the UK at the moment. Blair is redistributing massive amounts of money to the poor in the form of tax credits, and it is the speedy spending of this money that has maintained the whole economy.

However the economic effect of this redistribution is denied - it is claimed that the economy is 'strong' because of supply side reforms.

Third way nonsense.

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