Quote:
Originally Posted by Iowa_Flames_Fan
Before you were saying that the growth during the Roosevelt years was an illusory "bubble." Well, any period of prosperity can be seen as a "bubble" if it can be of any length that you choose. I might as easily say that the Reagan years ushered in a "bubble" that is ending now, 30 years later.
But now you're claiming that the growth was "magical"--that it didn't happen. But the fact is, it did happen. Explaining it is a job for historians--and for that I depend on the work of people much smarter than myself. I merely rely on the explanation that most closely suits the facts.
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Or economists. Dammit, there are a couple of really good economists doing some good debunking and I can't seem to find the links to their work. I do have a podcast, but I'll be darned if I can remember their names or institutions.
Anyway, my point was not to be directly contradicting your POV, only to raise questions surrounding current orthodoxy of the Keynesian worldview, which is in my view very shaky.