Quote:
Originally Posted by randolph
According to Keynsian theory, the way to recover from an economic downturn is for the government to spend lots of money, which is what Obama did. Did it work? Well, not very well because much of the money went into the stock market instead of into the economy.  |
It's more than theory; it has, to use Tracy Coxx's word, been proven empirically. You can't use the Obama stimulus plan as a measure precisely because not that much was actually spent. A massive public works program, like that during the Great Depression, would do exactly what Keynes "theorized," and put the United States in a better competitive position with respect to the emerging economies that are dealing with twenty-first century problems (while this country argues over Planned Parenthood).