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Blind "Keynesian" expansion is, of course, not actually Keynesian in a General Theory sense. If there is idle Labor and idle productive equipment and natural resources are under constraint, then obviously the Keynesian spending should be targeted to investments that increase efficiency of natural resource use.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Wed Jun 6th, 2012 at 05:47:55 PM EST
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Precisely what I think. Keynes is many times used to justify things with which he'd never agree.

by Luis de Sousa (luis[dot]de[dot]sousa[at]protonmail[dot]ch) on Thu Jun 7th, 2012 at 06:10:51 AM EST
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Keynes in three words: "Employment is paramount".

We have an anti-employment economic policy establishment.

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa

by Migeru (migeru at eurotrib dot com) on Thu Jun 7th, 2012 at 06:16:35 AM EST
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