Is Obama A Keynesian?

So the real question is. Is Obama a Keynesian?
kymbossays...

I like the way he's demonstrating how supporters of the left are not inherently better informed or intelligent than those on the right.

Or did I miss his point?

Hey, what's good for the goose...

siftbotsays...

Boosting this quality contribution up in the Hot Listing - declared quality by blankfist.

Double-Promoting this video back to the front page; last published Wednesday, November 3rd, 2010 7:58pm PDT - doublepromote requested by blankfist.

jwraysays...

epic fail. Isn't US history a required subject in high school and/or college? How do you study US history without studying the new deal, and mentioning Keynesian economics?

ChaosEnginesays...

Sorry but the level of ignorance being displayed here is not comparable to the level of ignorance displayed by the Tea Partiers.

Most people are not aware of Keynes or his economic theories. That doesn't make them idiots. Economics, and the different schools of economic though, are not common knowledge.

Would it be better if more people did understand? Sure, but it would be better if people were better educated in general.

dystopianfuturetodaysays...

I might have assumed they meant 'Kenyan' as well, as the baggers are usually not so bright with the economics or the spelling. Would probably be even funnier to get reactions from the tea baggers, themselves.

GenjiKilpatricksays...

In Georgia they don't teach you Economics until the last year of high school.

And even then [since it's paired with Politics.] it's only 9 weeks of skimming material with no discussions or critical thinking applied.

Basically, they tell you about inflation then you graduate.
You know, so you're prepared.

peggedbeasays...

it's the same in texas, 9 weeks at the end of your senior year. in my experience, this class is usually taught by a coach which means you can leave and go chain smoke in your car and fight with your boyfriend until next period.

it also isn't a required course for a bachelors degree in most things.the majority of people don't have even an elementary education in economics. so is it funny for those of us who picked up on the word to laugh at those who didn't.. eh, maybe? but it's not really saying anything specific about the left.. maybe it's saying something specific about the knowledge base of americans in general?

>> ^GenjiKilpatrick:

In Georgia they don't teach you Economics until the last year of high school.
And even then [since it's paired with Politics.] it's only 9 weeks of skimming material with no discussions or critical thinking applied.
Basically, they tell you about inflation then you graduate.
You know, so you're prepared.

NetRunnersays...

>> ^ChaosEngine:

Sorry but the level of ignorance being displayed here is not comparable to the level of ignorance displayed by the Tea Partiers.
Most people are not aware of Keynes or his economic theories. That doesn't make them idiots. Economics, and the different schools of economic though, are not common knowledge.
Would it be better if more people did understand? Sure, but it would be better if people were better educated in general.


This.

I took two full semesters of Econ in college, and the word "Keynesian" never came up. Neither did "Austrian", "Monetarist", "Classical", "Neoclassical", or any other label for different schools of macroeconomic thought.

It wasn't until I started having regular contact with pseudo-intellectual right-wingers on here that I became aware that there was a variety of fundamentally different views of economics, including one that they were intent on branding as evil.

NetRunnersays...

>> ^jwray:

epic fail. Isn't US history a required subject in high school and/or college? How do you study US history without studying the new deal, and mentioning Keynesian economics?


Easy, they don't call it "Keynesian economics" they call it "the New Deal", and "jobs programs", and "infrastructure investments", and then most classes say that it was the mobilization for WWII that really ended the Great Depression.

My high school history class on the depression went way into the weeds about the Tennessee Valley Authority and the WPA, but never once did they say "the New Deal was a Keynesian economic policy that used fiscal stimulus to increase aggregate demand to close the output gap that had opened up in the Depression".

blankfistsays...

>> ^NetRunner:
I took two full semesters of Econ in college, and the word "Keynesian" never came up. Neither did "Austrian", "Monetarist", "Classical", "Neoclassical", or any other label for different schools of macroeconomic thought.


Probably because they want you to believe it's a free market economy.

NetRunnersays...

>> ^blankfist:

>> ^NetRunner:
I took two full semesters of Econ in college, and the word "Keynesian" never came up. Neither did "Austrian", "Monetarist", "Classical", "Neoclassical", or any other label for different schools of macroeconomic thought.

Probably because they want you to believe it's a free market economy.


Actually, now that I know a lot more about the different schools of economics, I can definitively classify what they taught me in college as Milton Friedman's Monetarist view of macroeconomics.

Which, according to you, isn't "free market" economics at all, because Friedman believed that monetary policy alone could stabilize the economy on a macro scale to the benefit of all.

Mostly though, I think you don't understand that economics is supposed to be a study of the origin and nature of wealth, and not some holy scripture, handed down through the generations intact and unchanged, that tells us what the structure of society must always be.

That's called religion.

blankfistsays...

>> ^NetRunner:

Mostly though, I think you don't understand that economics is supposed to be a study of the origin and nature of wealth, and not some holy scripture, handed down through the generations intact and unchanged, that tells us what the structure of society must always be.
That's called religion.


This is why the Democrats will soon lose more than just elections. It's this elitist smugness. I do think fascism is coming to this country, and the tea party movement is just the beginning. You may think they're just racist hillbillies, but they'll wrap that flag so tightly around that cross you won't know just how quickly your entire belief system can be ripped out from under you.

If you Democrats were smart, and I know most of you are very smart, you'd start reasoning with them instead of belittling them. Even the playing field instead of desperately scoffing at them for being inarticulate warmongers. And so on. I'm not saying they're much better, but I do tend to see them listening more than your side.

When and if it comes, I wonder which side you'll be on?

NetRunnersays...

@blankfist, I'm glad you see fascism in the tea party now.

I'm against them, as I always have been.

I don't see how reasoning with them is possible -- they live in a world that operates on its own facts, and have for years now.

I've tried several times to point out that you and I should be on the same side -- against the tea party -- but usually you've been cheering them on, because they've been calling Obama and Democrats Nazis.

Still, I'll take another ally, even at this late hour.

As for the elitist smugness, think that's all in the eye of the beholder. I think conservatives have always acted out of a sort of ignorant smugness -- that gut "common sense" is always superior to those of us with book learnin' who use big fancy words (like Keynesian).

Personally, I think it's amazing that an ideology that valorizes the elites in our society has somehow painted the ideology of egalitarianism as being somehow "elitist". It's another amazing feat of up-is-downism propaganda.

It's also more of the cult of victimization that fuels fascism at work -- if someone points out that your deeply held preconceptions are based on faulty reasoning or incorrect facts, you can just tell yourself it's another pointy-headed socialist disrespecting you, and when we put those traitors into camps, they'll be made to see the error of their ways...

qualmsays...

If in the next several years random and organized political street violence becomes increasingly widespread and commonplace in the US then yeah, i do believe that fascism will be a real concern at that point.

NetRunnersays...

@blankfist, let me try this again with a little more sleep.

Let me remind you that right now I'm trying to reason with someone who implied I was somehow brainwashed by a biased economics class, and followed it up by saying all liberals are smug, condescending elitists who never listen.

That said, I'm curious. What is it, specifically, that you think liberals need to do differently in order to stave off tea party fascism?

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