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**ssupermegatone** · 01-23-2008, 04:01 AM

Originally posted by Barnabas

The approach of Bush for avoiding a recession is absolutely Keynesian, he will spit 145 thousand million dollars so that yankee carpenters and plumbers can keep spending above their means.

I actually agree with Bush and I would do the same.

What bothers me is that first world countries do that and no one minds, but when third world countries face an economic crisis and the state tries to give the economy a stimulus, they get called populists (to say the least offensive thing) by the economic magazines, the imf etc etc

I think third world countries should stop following the advices given by the first world, and should start following the examples given by the first world.
No rich country tries to get out from a recession by increasing taxes, firing state employees, less spending and all the things required in structural adjustments.

Thanks God daddy state is always there to save capitalism from its periodical crises You've got your Keynesian economics a bit mixed up. First, Bush is a supply-sider mostly. Second, Keynes never made any proposals for third world economies. His theories are economic recovery theories, not development theories.

01-23-2008, 04:01 AM	#19
ssupermegatone Join Date Oct 2005 Posts 514 Senior Member	Originally posted by Barnabas The approach of Bush for avoiding a recession is absolutely Keynesian, he will spit 145 thousand million dollars so that yankee carpenters and plumbers can keep spending above their means. I actually agree with Bush and I would do the same. What bothers me is that first world countries do that and no one minds, but when third world countries face an economic crisis and the state tries to give the economy a stimulus, they get called populists (to say the least offensive thing) by the economic magazines, the imf etc etc I think third world countries should stop following the advices given by the first world, and should start following the examples given by the first world. No rich country tries to get out from a recession by increasing taxes, firing state employees, less spending and all the things required in structural adjustments. Thanks God daddy state is always there to save capitalism from its periodical crises You've got your Keynesian economics a bit mixed up. First, Bush is a supply-sider mostly. Second, Keynes never made any proposals for third world economies. His theories are economic recovery theories, not development theories.
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