Master of Disaster and Taxes upon Taxes

[ChinoCoug]

Originally Posted by Archaea

Because it wasn't effective.

We didn't effectively take care of liquidity in the capital markets and provide an effective market for the toxic assets. They bailout was wrong-headed and poorly implemented.

Do you really believe unemployment is caused inefficient aggregate demand that should be rectified by government spending? What about "supply shocks, or sectoral shifts"?

We have excessive wage rates right now and the economy is necessarily correcting itself. The period of this correction is being exacerbated by government's actions.

The instability of today's economy is the result of government's interventions.

Here is why I will never believe in Keynesian economics, as the great saint, Milton Friedman wrote about lag times:



How are your wise and omnipotent fellow Keynesians going to know what the market will be in eight or twelve months? I do not agree with the wisdom or even the good will of your policy wonks.

Friedman is a stud.

Context for the quote, please.