Re: [Phys-l] frizzi

[William Robertson <wrobert9@ix.netcom.com>]

As science types, let's not make claims that need qualification, and  
not include that qualification. If what you mean by mainstream  
economists is Keynesian  economists, then your claim is correct. There  
are an equal number of qualified economists who realize that Keynesian  
economics has failed every time it's been tried, and you are not  
including those people in your statement. We are in danger of what has  
been called a Keynesian death spiral, in which the government  
stimulates the economy ad nauseum. There has to be a rebound when the  
funds run out, and then the government has to spend even more money.  
The only way out of that is to spend even more money, and eventually,  
you have to come out of the hole you have dug. FDR gets much credit  
for having saved the country, but there are plenty of economic  
scholars who believe that FDR only prolonged the depression with his  
massive government spending. There is no way to get out of a recession  
or a depression without pain, but the question is, which way is the  
quickest way out? Keynesian economics is absurd at its face, that you  
can spend your way out of a recession. That especially applies to  
government spending, where waste is commonplace. Why does it make  
sense to take one person's money and give it to another, all the while  
taking a massive cut for yourself? That's what the government does.  
Better, maybe, to let the transactions take place without the  
government being involved?

I know this post doesn't belong on this list, but politics always seem  
to creep in. I've said what I intend to say, and will not post further  
on this.
.
Bill



On Aug 19, 2011, at 3:31 PM, John Clement wrote:

> As to the economy most mainstream economists think that the current  
> fiscal
> policy dictated by the conservatives is likely to make the economy  
> worse,
> and the FED really now has practically no room to maneuver.