What do you think of Keynesian economics?

I think it's pretty clear that Keynesian economics works. The problem is that we used it all along not to pull ourselves out of recession but to boost the economy in -good- times, so when bad times came we were already so deeply in debt it wouldn't work.

Every president since WWII has used military spending to boost the economy. From Truman to GW Bush. I have heard this called 'military Keynesianism'. Ronald Reagan doubled the entire pre-existing national debt in his first term. GW Bush also doubled the whole debt, but it was much bigger than and it took him two terms.

Reagan's economy had two inputs: (1) Enormous spending deficits, flooding the economy with govt. money and (2) tax reform that actually -raised- the taxes of most people through FICA increases. There were two outputs (1) HUGE added federal debt and (2) small increases in govt. revenue. Whether you are a liberal or a conservative depends on which of those inputs you connect to which of the outputs. 8^)

It's just too easy for a president to run up a debt to stimulate the economy. He can take credit for the boost to the economy, and when the bill comes due he's out of office and it's some other president's problem.

Keynesian economic works, and it's the only way we can pull ourselves out of the hole dug by Bush. But we wouldn't have as far to climb out if Bush and his Republican predecessors hadn't borrowed so much when we didn't need to.

It doesn't work! This is the same system we are using, especially the Federal Reserve. It's just a brand of socialism, it has a huge distortion on the market, they think spending ourselves into oblivion is great, yet they hardly balance the budgets, they have no plans to reduce the national debt, they regulate/bail-out too many corporations, they drop the taxes on us, and they those Keynesians thinks printing/borrowing money is okay... as long as we pay back the debt, while creating more inflation.

Keynesian economics has been used heavily under Wilson, Hoover, FDR, Johnson, Nixon, George Bush Sr/Jr, and also Clinton. Keynesian economics is just another rigged way to destroy the economy to nationalize them for political purposes, and to weaken the currency for great power for the Feds. It didn't work before, it doesn't work now... and it certainly won't work in the future.

It is correct from a theoretical and empirical standpoint. It is the proper lens with which to view the economy in most cases, and is often misunderstood. Keynes did not, for instance, advocate unrestrained spending, and he most certainly did not advocate unrestrained money-printing.

Keynesian ideas are particularly relevant at this time, as we are facing a collapse on the demand side, which we haven't had since the Great Depression.

A big issue I do have though, is that it's far too centered around financial markets, specifically with increasing the volume of exchange. Just as it's idiotic for free-market fundamentalists to ignore the demand side of the equation, so too is it stupid for many Keynesians to focus solely on demand.

It doesn't work. It's a system for idealists who refuse to ground themselves in reality. Austrian economics makes much more sense. Why would anyone want to be a Communist? People who blame the free market system don't realize that we've never really had a free market to begin with. As soon as the Fed was created and given false powers to manipulate the currency and elected officials took it upon themselves to pass legislation that cause malinvestments by businesses and individuals. Plus, we use fractional reserve banking system which means our money is essentially worthless because it isn't backed by anything of intrinsic value. Every element of our government and economy has been manipulated in some fashion by big business and bankers since 1871. The history is all there, if only people would read it. The power to coin money falls solely on the Congress, they gave that power away, and we've been paying for it ever since.

People purchasing products creates retail sales.

Retail sales creates factory orders.

More factory orders creates demand for labor.

Demand for labor creates jobs.

I'm not sure what talk radio school of economics has discredited this basic concept of economics, but anyone who thinks this isn't one of the core fundamentals of a stable economy, doesn't understand economics very well.

The desire of the rich to create jobs is dependent on the demand for product, not the other way around, as anarcho-capitalists like to claim.

Supply-side economics works well when the economy is doing well to provide extra funds for expansion to fill demand, not to magically create demand where none exists.

Like communism, it doesnt work in practice because people are too dumb to do it well. It has been thoroughly discredited and is taught strictly in an academic capacity.

It works. That Adam Smith "invisible hand" thing needs regulation it seems. That hand is too freely moved by very wise greedy people.

It has always failed you have any sources of it not failing. That would be easier to list I believe.

its a discredited view of the economy.

Just read it. Makes no sense at all.