- Nov 8, 2012
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AndyMMT said:Quoting a paper by Cochrane who uses Reinhardt and Rogoffs totally discredited "research" ? Seriously you need to keep up.
Lets try a proper economist instead a chicago school schill. Kalecki in 1943 "The rate of interest or income tax is reduced in a slump but not increased in the subsequent boom. In this case the boom will last longrr but must end in a new slump: 1 reduction in the rate of intrest or income tax does not of course eliminate the forces which cause cyclical fluctuations in a capitalist economy. In the new slump it will be necessary to reduce the rate of interest or income tax again and so on. Thus in the not too remote a time the rate of interest would have to be negative and income tax would have to be replaced by an income subsidy"
now go and look at a graph of the last 35 years of the neoliberal era and look at the downward trend of interest rates and income tax. Negative rates not possible you think? Do pay attention they have been talked about.
try political aspects of full employment by Kalecki and you might just learn something about economics instead of what amounts to a religion of neoclassical economics.
Link?Quoting a paper by Cochrane who uses Reinhardt and Rogoffs totally discredited "research" ?
Why don't you try debating the points instead of being an arrogant ***?Lets try a proper economist instead a chicago school schill.
Feel free to post your Kalecki links anytime you are ready.
Yeah, negative rates are the way to go. I'll just roll into the bank and ask them how much they will pay me to go buy a new car.now go and look at a graph of the last 35 years of the neoliberal era and look at the downward trend of interest rates and income tax. Negative rates not possible you think? Do pay attention they have been talked about.
Graphs? Why not look at the interest rate/national debt graph of say, since 1990? Interesting how far they have diverged.
OMG. What would Krugman think? Religion of neoclassical economics... are you Rhubroma's sockpuppet?try political aspects of full employment by Kalecki and you might just learn something about economics instead of what amounts to a religion of neoclassical economics