Thomas says:

#98
Keynes is recognized as one of the “great” economic theorists and as such is more misunderstood than most.

Absolutely Keynes was a great economist just as Aristotle and Copernicus were a great scientists. Just because someone was great in their time, does not necessitate that their theories be valid many years into the future. New data comes in and we learn more about the consequences of those theories. The problem with the 1930’s depression is that US benefited tremendously from the aftermath of WWII and that glossed over the problems of excessive government spending prior to the war. We’ve relied on having booms to the economy to cover wasteful spending. Here’ s news flash: those booms are over. Now we face the Piper.

Silly to suggest simply that “he is wrong.

Again, a simplification so that you could understand. To explain the areas where Keynes is still considered correct and all the areas where he is wrong would simply take too long.

In this case, we are narrowing our discussion about using government spending, in the manner in which the Stimulus Bill was crafted, in order to get out of a recession. This was Keynes suggestion to FDR. Other countries have tried this trick. Its kind of like an addiction to pain killers. There is a short term alleviation from the pains of the recession but the real pain continues to increase due to the additional debt. Now, on top of the mountainous debt, we have the Fed pumping up the money supply to a point where we would get more value making Chinese kites out of dollar bills. In short, we’re screwed. Not because of which party won this past election. We’re screwed because the current political system rewards spending now at the expense of the next generation.

Maybe you still could? But we take you as your present yourself: shortsighted I’ve got mine, screw you, lower taxes will fix anything, stooge Republican.

So much for not misrepresenting the other sides position.

If you ever do get around to taking a class on economics, I suggest you pay careful attention to the difference between the concepts of “selfish” and “self-interest”.

Thomas says:

#101
your summary of Keynes is that it doesn’t work because his name was applied to some action in 1930′s and we are now in a recession with the dollar weakening. That makes for good dogma and bumper stickers but is plainly inchoherent.

Keynes is *the* economist in whose name this government spending is being justified. Keynes test experiment was the 1930’s depression. They are all correlated. It is sophistry to argue otherwise.

My longer comments and even short summations go to being both selfish and lacking self-interest. What else do you think “short sighted” means except shorting one’s own self interest?

You may be selfish but I fail to see how that relates to the discussion at hand. You continue to want to vilify anyone that argues against the administrations current approach as being selfish. In short, you are irrational. How do we best serve the interests of the country over the long term. You cannot be more short-sighted and selfish than to endorse the idea of accumulating more debt now in the vain hope of easing the affects of the recession in the short term at the expense of the next generation.

So, when I run into someone that fundamentally lacks any understanding of the root elements of economics and history but exclaims how wrong I am, you might understand how little that affects me.

Complicated issues are not “simple.” Its simple minded to argue so.

Indeed complicated issues by definition lack simplicity, but by the same token complicated issues cannot be explained to simpletons.