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Keynesian exuberance for the powers of stimulating demand or the 'consumer' has been in vogue since the 1930s. It is sheer nonsense which is taught in every school across the globe. Keynesian economics is little more than intellectual pablum used by Christian Louboutin Sky High Platforms those in power or by a technocratic and largely illiterate elite to increase their power; enhance government; print money and otherwise destroy normal economic relationships. Keynes' theory, so believed by professors is in practice a disaster.
Keynes was a left wing wall flower Christian Louboutin Mens Shoes Sale and a member of the deranged Bloomsbury group of interWorld War British pacifists. He was an arrogant theorist who truly believed in the magical elixir of large government and in the technocratic dream of controlling billions of personal, business and economic decisions, to programmatically construct a perfect world order. Keynes gave intellect and jargon filled cover and rationale to politicians and demagogues who would cite his book, 'The General Theory of Employment, Interest and Money', to justify state interventionism.
According to this theory which has failed in practice every time it has been tried, governments can stimulate an economy through granting consumers, workers and businesses sums of borrowed money. This is termed a 'stimulus'. Cheap Christian Louboutin Shoes This debt or current deficit financing stimulus, is then paid back or retired, when the economy strengthened by consumer spending and business investment, produces a surplus of tax revenues. The stimulus is needed, so argued Keynes, to overcome business cycles, downturns and unexpected events which would decrease jobs, increase unemployment and impact state revenues. By macro and micromanaging economic and production processes, the state, so thought Keynes, would avoid cyclical variations and ensure that the lowest level of unemployment could be maintained. Government power was thus indispensable to full employment and income equality.
There are many problems with such a counterrational plan to economic management. None of Keynes' core assumptions make sense when they are Christian Louboutin High Pumps Outletanalysed either separately or together. Business cycles have historically been caused by governments, and they are usually a response to government policies to increase the size of the state through trade barriers, higher taxation, more spending, more regulation and programs of fear and compliance. The Great Depression, the 70s Stagflation and the current financial crisis are all obvious examples of this fact. Government causing economic malaise would appear to mean that government programs are Christian Louboutin Boots Sale not the solutions required to either get out of an economic downturn, nor to prevent future derailments from taking place.
The main impact of Keynesian economic stimuli is to increase debt; raise future tax rates and distort the normal functionings of economic markets and personal http://www.christianlouboutinus.com/ and corporate decision making. Governments choose winners and confirm losers. The winners will include companies which get bailed Christian Louboutin Sandal Flats out, those receiving welfare, unions and others having their jobs protected, those receiving redistributed incomes and those paid off for political support. The losers invariably include firms both domestic and international who want fair and free trade; higher income families; small businesses who are classified under high income categories; future generations who must pay off the debt; and consumers who pay a higher costs for all products and services.
Under Keynesian philosophy, government and technocrats assume the role of God. Given the poverty of God heads Christian Louboutin Outlet Online throughout history, this is probably Christian Louboutin Platform Shoesnot a noble supposition to support.
Brian Reidl from Heritage Institute wrong an excellent article recently on the fallacy that Christian Louboutin Outlet government spending, or what is termed Keynesian deficit spending, run by Godheads, is beneficial (see Reidl"Government cannot create new purchasing power out of thin air. If Congress funds new spending with taxes, it is simply redistributing existing income. If Congress instead borrows the money from domestic investors, those investors will have that much less to invest or to spend in the private economy. If Congress borrows the money from foreigners, the balance of payments will adjust by equally reducing net exports, leaving GDP unchanged. Every dollar Congress spends must first come from somewhere else.