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Thread: All of a sudden Keynesian economics is OK by conservatives

  1. #481
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    Re: All of a sudden Keynesian economics is OK by conservatives

    Quote Originally Posted by Objective Voice View Post
    Quote Originally Posted by cpwill
    The idea that we can make the economy run more efficiently by increasing the portion of it that is run by politicians continues to strike me as ridiculous, and has been repeatedly disproven.
    Don't confuse (or conflate) increased government spending with bigger government bureaucracy.
    1. Bigger government spending does come with bigger government bureaucracy.
    2. The point I was making was that increasing the share of the economy that is centrally directed doesn't make that economy run more efficiently. If you take a chunk of the economy out of where it was being allocated by the market according to market incentives, and give it to politicians, who allocate it according to political incentives, you haven't increased the effectiveness of that wealth, you've decreased it.

    Conservatives and liberals both agree that our infrastructure is in serious need of repair.
    No, Republicans and Democrats both agree that they like getting credit in their home districts for big expensive projects financed by people other than their constituents.

    The crazy thing was conservatives condemned Pres. Obama when he begged for billions in American Jobs Act (and to a degree, in the Stimulus bill) to go toward infrastructure rebuilding including those so-called "shovel ready" projects. But now many of these same conservatives are in support of federal spending for the same "shovel-ready" infrastructure projects.
    Nor should you conflate the Trumpkin/Bannerites with Conservatives. Conservatives are aghast at things like a Trillion dollar "Porkulus II".
    “In America we have a two-party system,” a Republican congressional staffer told a visiting group of Russian legislators. “There is the stupid party. And there is the evil party. I am proud to be a member of the stupid party. Periodically, the two parties get together and do something that is both stupid and evil. This is called: bipartisanship."

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    Guru ataraxia's Avatar
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    Re: All of a sudden Keynesian economics is OK by conservatives

    Quote Originally Posted by jaeger19 View Post
    First.. you do realize that one of the reason that wages are higher in the US than Bangladesh is because of regulation right?

    Second.. regulation does have other costs.. and those costs also affect the reason that companies decide to go overseas with production.

    And that's in part due to regulations.
    It has nothing to do with regulation. No amount of deregulation here in the US is going to allow any American and their whole family to live on $5 a day. The cost of living in Bangladesh is much lower. That's the main reason the jobs are leaving the US. As long as that difference remains so dramatic, American workers will not be able to compete with them- at least not in a completely free market. That's why they are looking to Trump to protect their jobs with big government regulations and imposed taxes and tariffs.

    Cutting regulations will certainly allow more net corporate profits. But the current Trump supporters and Tea Party types are never going to see any of that. And without them, who is going to be left voting "conservative"? Perhaps only Charles Koch and his brother.
    Last edited by ataraxia; 03-20-17 at 07:23 PM.

  3. #483
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    Re: All of a sudden Keynesian economics is OK by conservatives

    Quote Originally Posted by ataraxia View Post
    It has nothing to do with regulation. No amount of deregulation here in the US is going to allow any American and their whole family to live on $5 a day. The cost of living in Bangladesh is much lower. That's the main reason the jobs are leaving the US. As long as that difference remains so dramatic, American workers will not be able to compete with them- at least not in a completely free market. That's why they are looking to Trump to protect their jobs with big government regulations and imposed taxes and tariffs.

    Cutting regulations will certainly allow more net corporate profits. But the current Trump supporters and Tea Party types are never going to see any of that. And without them, who is going to be left voting "conservative"? Perhaps only Charles Koch and his brother.
    And yet you think by forcing Walmart and McDonalds to pay $15 per hour people will have enough money to live on.

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    Re: All of a sudden Keynesian economics is OK by conservatives

    Keynesian economics have been embraced by Conservatives for years. Think of Teddy Roosevelt, for example.

    Free marketers, right-winged libertarians, for example, abhor Keynesian economics.
    Heck, they refer to the Fed as a classic example of Keynesian economics because the Fed constantly pushes for inflation in the economy while reducing the effects of inflation's devaluation of the dollar's spending power.
    "I'm not saying The Constitution is a mutt but politicians and judges treat it like one." cabse5 02/23/16
    "Free markets are markets with few regulations and where the 'invisible hand' relentlessly squeezes the throat of US manufacturing." cabse5 03/12/16

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    Re: All of a sudden Keynesian economics is OK by conservatives

    Quote Originally Posted by ataraxia View Post
    It has nothing to do with regulation. No amount of deregulation here in the US is going to allow any American and their whole family to live on $5 a day. The cost of living in Bangladesh is much lower. That's the main reason the jobs are leaving the US. As long as that difference remains so dramatic, American workers will not be able to compete with them- at least not in a completely free market. That's why they are looking to Trump to protect their jobs with big government regulations and imposed taxes and tariffs.

    Cutting regulations will certainly allow more net corporate profits. But the current Trump supporters and Tea Party types are never going to see any of that. And without them, who is going to be left voting "conservative"? Perhaps only Charles Koch and his brother.
    Of course regulation plays a part. American companies do compete with overseas labor at "5 dollars a day". We do it by automation.. increasing productivity and efficiency. So yes.. our labor cost? Higher. But our output and efficiency? Also higher.

    BUT.. regulation also plays a part as due all other costs and business factors. Regulation too high... well then.. it tips the scales and now suddenly its better to outsource.

    You keep saying that Americans can't compete.. well that's a bald face lie. Of course American companies compete... heck.. we still manufacture in the US now don't we. Well the Bangladesh didn't just start a 5 dollar a day wage.

    Cutting regulations will certainly allow more net corporate profits
    Exactly.. which helps tip the scales to companies STAYING HERE.. rather than outsourcing or closing.
    But the current Trump supporters and Tea Party types are never going to see any of that.
    Maybe.. maybe not.. there are many other factors that effect wage pressure and wages. However.. what you can be certain of.. is that if companies DO NOT MAKE PROFIT.. then there is ABSOLUTELY NO WAY.. that any trump supporter or liberal democrat is going to benefit when a company loses profit or closes.

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