dont understand the Keynes quote. is he saying you just keep taking on debt and never pay it off. that ends up screwing over somebody, maybe the next generation, maybe the lender. did I misunderstand the idea?
Lowtech Keynes was taking a jab at the economics of the time, that took too much comfort in the fact that the economy is self correcting "in the long run". We don't live in the long run, and saying that things will eventually be fine sets economics too easy and too useless a task. By the time things return to normal, we could be dead. So we also need to consider the economics of the short run. That's what he meant.
What about contractionary fiscal policy?
Fantastic class...
If consumption is less then savings are more
Then investment is more explain plz
dont understand the Keynes quote. is he saying you just keep taking on debt and never pay it off. that ends up screwing over somebody, maybe the next generation, maybe the lender. did I misunderstand the idea?
Lowtech Keynes was taking a jab at the economics of the time, that took too much comfort in the fact that the economy is self correcting "in the long run". We don't live in the long run, and saying that things will eventually be fine sets economics too easy and too useless a task. By the time things return to normal, we could be dead. So we also need to consider the economics of the short run. That's what he meant.
ممكن ترجمه
Ah yes, keynesian economics.
shaochia vang sucks
We have pass longrun...Keynes is already dead.