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    nailed..., 2008-10-26 14:04:37 | Main | redistribution..., 2008-10-27 14:45:17

    in the long run keynesianism is already dead:

    On Friday Uwe E. Reinhardt described tax incentives for investments in alternative energy production as demand stimulus.

    On Saturday Jeffrey Hummel described a "$1.2 trillion increase in federal government borrowing" used to purchase preferred shares and troubled debt securities - that is, going into debt to buy debt, directly introducing a net of 0 demand stimulus - as irrefutable proof that Keynesian demand side stimulus is a failure.

    On Sunday the demand curve became the supply curve, old debts became new debts, Xes became Ys, and all the bar graphs collapsed into point singularities, perfecting our equations at long last.


:: posted by buermann @ 2008-10-27 09:15:32 CST | link





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