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by mattkrause
263 days ago
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That's not a fair---or accurate---summary of Keynes. The claim is that the government should act as a stabilizer: spending to drive aggregate demand during downswings (especially ones caused by external shocks) and regulating during up-swings. In other words, "more" refers to different things and in different proportions in different phases of the business cycle; it's emphatically not a "heads-I-win-tails-you-lose" sort of thing. |
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