How did Keynesian Economics become Mainstream

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File: b2a123aa993dc90⋯.jpg (77.91 KB, 720x551, 720:551, housingbubble.jpg)

File: 6d8373cf15ee631⋯.jpg (147.09 KB, 640x916, 160:229, john-maynard-keynes-920628.jpg)

How did Keynesian Economics become Mainstream Anonymous 09/07/18 (Fri) 07:20:16 No.90361

>Paying people to dig ditches and fill them back up again is gainful employment

>We shouldn't be worried about the long term because "we'll all be dead"

>WW2 and/or the New Deal ended the depression

>We need a housing bubble to replace the Nasdaq bubble

>A trillion dollar coin could pay off the national debt

>Letting the market fix itself is ridiculous so we need an alien invasion to create fiscal stimulus

>20 trillion in debt isn't a problem because its the money we owe to ourselves

How did Keynesian economics become mainstream to the point people unironically say "believing in Keynes is like believing in Darwin"?

Anonymous 09/07/18 (Fri) 07:51:46 No.90362

>>90361

>Paying people to dig ditches and fill them back up again is gainful employment

Works for the military.

Anonymous 09/07/18 (Fri) 18:07:12 No.90367

>>90361

World War 2 bailed it out because the United States demanded the world's gold reserves to intervene.

Anonymous 09/07/18 (Fri) 19:13:09 No.90368

>>90361

<Paying people to dig ditches and fill them back up again is gainful employment

Bureaucrats love this, it gives them job security

<We shouldn't be worried about the long term because "we'll all be dead"

Politicians love this, it gives them promises that come to fruit quick enough for re-election

<WW2 and/or the New Deal ended the depression

Interventionists love this, it gives them justification to star more wars

<We need a housing bubble to replace the Nasdaq bubble

Banks love this, it gives them gibs in the form of bailouts

<Letting the market fix itself is ridiculous so we need an alien invasion to create fiscal stimulus

Lefties love this, it lets them virtue-signal and pretend they're doing good

You can see where this is heading I assume.

Anonymous 09/07/18 (Fri) 20:36:57 No.90374

File: d88eaa970711567⋯.jpg (121.32 KB, 800x600, 4:3, Keynesianism.jpg)

>>90361

>How did Keynesian economics become mainstream to the point people unironically say "believing in Keynes is like believing in Darwin"?

Some would cite F.A Hayek's failure to address Keyne's General Theory as the reason it ever became popular in the first place (before then it was obvious to most people that Keynes had no understanding of economics as he was generally humiliated in public debates where he didn't seem to know the first thing about economics), however it's popular and endearing because it appeals to the needs of politicians, promises quick solutions to crashes (caused by government messing with interest rates) and bashes the market (hence giving an explanation for crashes when no obvious answer exists at the given time).

The problem of course as anyone on this board can guess or already knows, is that these solutions fail. They make the recession or the depression much worse. Most people when faced with these conclusions are either stunned by that fact or deny it outright. They see government as a rational counterpart to an irrational market, kind of like the good guy who's trying to sober up his drunken mess of a buddy after a party. That is, if he was the one getting his buddy drunk to begin with and his solution to sobering up was shoving some Jack Daniels down his throat instead of Kharkov.

Anonymous 09/08/18 (Sat) 21:38:51 No.90495

>>90374

Then how do we change the perception? If liberty is to advance, the public should at least be aware of economic principles and how fraudulent Keynesian Economics is.

Anonymous 09/08/18 (Sat) 22:35:39 No.90501

>>90495

>how do we change the perception?

This is one of the downsides of this board. No one really wants to talk about the how, instead they'd rather sit around writing long-ass posts, showing off their knowledge of economics to each other than doing anything practical.

How you do it is the same as how commies do it, they do it by moving society in the direction of slavery, we do it by moving society in the direction of freedom. The smart commies don't call for a complete proletarian revolution straight away, because that scares people, and instead they shill for individual issues that promote egalitarianism and statism, like welfare and SJW shit.

Similarly, we must not call for total anarcho-capitalism, because that scares normalfags and they don't really understand what it means, instead if you go about shilling for individual issues like abolishing taxes, gun ownership, freedom of speech, etc… by explaining these things to normies who might be libertarians too (they just don't know it), you'd achieve better results than these geniuses writing their essays on an imageboard.

tl;dr: Populism.

Anonymous 09/09/18 (Sun) 02:47:13 No.90506

File: 15a7cbd19a2a633⋯.png (338.89 KB, 760x400, 19:10, ClipboardImage.png)

>>90501

Can we do it online?

Anonymous 09/09/18 (Sun) 14:20:39 No.90514

>We shouldn't be worried about the long term because "we'll all be dead"

why should i care about future generations? im an antinatalist myself and i dont want to leave my genes here

Anonymous 09/09/18 (Sun) 14:41:35 No.90520

>>90514

Because the long term isn't just multi generation, you'll feel the effects in just a few years.

Anonymous 09/09/18 (Sun) 14:49:57 No.90521

File: 1c7bedc493211df⋯.jpg (104.36 KB, 640x428, 160:107, finns.jpg)

>>90495

>Then how do we change the perception? If liberty is to advance, the public should at least be aware of economic principles and how fraudulent Keynesian Economics is.

I don't have the answers to this and truth be told there's a lot of different ways to go about it as one anon's already shown. Some would argue that people already are starting to understand for the most part that Keynesianism and other similar economic mantras are filled with shit, and I definitely think that a lot more people are skeptical of it than ever before. The internet can be thanked for that, the spread of information is a fantastic thing.

>>90514

>why should i care about future generations? im an antinatalist myself and i dont want to leave my genes here

Well for starters I doubt anyone would want to pass on your shitty genes but with that in mind the question turns to why you'd involve yourself in the discussion at all and even more importantly, as to why you haven't kissed the barrel end of a Mossberg yet.

Anonymous 09/10/18 (Mon) 05:28:39 No.90553

>>90521

breeder detected

kys