#Keynesian economics is so straightforward and #simple. The problem is that Capital gives mainstream economists many reasons (and by "reasons" I of course mean dollars) to "motivate" them to espouse "supply-side" #principals

Mainstream economics is a total mess thanks to the heavy influence of "supply-side" "economics" over the past 50 years.

It is time for that to change and a return to #Keynesian economics

Capital seeing the robust Demand was forced to hire more workers, pay them more because of tight labor conditions, and in general #actually do constructive work to meet the healthy Demand.

Hiring more workers and paying them more created even more Demand thus creating a virtuous #Keynesian cycle

By comparison, UK consumption is substantially below trendline which is typical of European/Asian advanced economies indicative of a weaker recovery and current recessionary conditions.

What is responsible for success of U.S. economy?

Ans: #Keynesian economic principles

The combination of strong wages and strong employment numbers produces the healthy Demand that powers the economy forward incentivizing Capital to hire more and pay more which is the #Keynesian virtuous cycle

#DEMOCRATS WRECKED #ECONOMY AND ELECTION RETURNS. #Trump candidates had a better than 80% win overall, still an impressive record of wins.
The biggest problem for #Biden remains the failing economy and #Inflation The unsecured #southernborder Raising #Taxes and #InterestRates The #Dems are stuck in a #Keynesian nightmare.
FULL STORY HERE:
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Introduction: #economist by training, focusing on #Keynesian and #Post-Keynesian theory about #finance, #crises, #money, and #power. Currently thinking about how to transform economic #policy to mitigate #climate change in equitable ways. I live in RI with my family, and teach at the University of Rhode Island.

Q: 1879-1933

A: What are the years that the United States was on a true #gold standard.

Only 22% the US’s existence. Furthermore, a full 25% of the gold standard years coincided with the Great Depression. #economics #finance #currency #crypto #Keynesian #monetarist #deflation #inflation #fed #tariffs #Austrian