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Showing posts with the label Keynesian Economics

Ed Balls was part of Brown and Miliband's contribution to the decline of the Labour Party.

https://www.theguardian.com/commentisfree/2016/aug/28/ed-balls-labour-minister-memoir Ed Balls new book condemns Jeremy Corbyn’s "leftist utopian fantasy”  and remains in denial of his part in the decline of Labour over the past ten years. Conservative candidate Andrea Jenkyns celebrates Not very long ago, during the last Labour government, it was stated in the media and on television programmes at the time, that Ed Balls was the best economist that the Labour party had. Well, he did not read the same text books or attend lectures with the same tutors as I did. In view of his forthcoming excursion into the world of reality entertainment, we should perhaps hope that his Paso Doble and Fox Trot are better than his understanding of The General Theory of Employment, Interest and Money

Keyness and Freidman spinning in their graves and laughing

http://www.theguardian.com/politics/2015/apr/29/tories-promise-tax-lock-in-latest-move-to-combat-labour Tories promise 'tax lock' in latest move to combat Labour Prime Minister  has seriously lost the plot This must be the most crassly ludicrous, ridiculous, patronising promise, pledge, or undertaking made by any politician (so far) of any party during this election campaign. To even consider that the electorate will accept this nonsense demonstrates that this Prime Minister who is seeking another term in the office, has seriously lost the plot and had his powers of logic and reasoning damaged beyond repair by "sitting in one place for too long". There is absolutely no reaso n to believe that a Chancellor of the Exchequer of any party would commit to a five year period of income tax freezes on all income bands, freezing duties on all goods and services, freezing VAT rates or any of the other fiscal tools when proposing annual their budg...

The economy demands a change in direction.

http://www.huffingtonpost.co.uk/2013/01/04/uk-economy-back-into-red-services-sector_n_2408017.html?utm_hp_ref=uk UK Economy Dips Back Into The Red After Services Sector Shrinks    Services, including construction, suffered badly in the last three months of 2012  Advice to ConDem coalition, masquerading as government. Pop down to your local Smith's and purchase a copy of "The General Theory of Employment, Interest and Money," (it is also available in paperback from Amazon at £9.99), and note that in the short run, productive activity is influenced by aggregate demand (total spending in the economy), and that aggregate demand does not necessarily equal aggregate supply (the total productive capacity of the economy).  Therefore, if as a start, a comprehensive programme of house building of social housing for local authorities were commenced, the benefit to the economy would be two fold. The housing shortage problem would be addressed and aggregate demand in...