So all these economists are morans right?
good to know theres a philosphy major to lead use the way.
The vast overwhelming majority of economist agree the crisis would have been worse. Only fringe economist, and ones with political agendas criticized it.
Whatever background noise.
Lol majority of economists? You mean the ones praising the success of austerity measures and keeping a balanced budget instead of spending more? Keynesian economics is dead, it seems like its only the American government want to hold onto it. A government is more effective at cutting taxes than spending more money if it wants to influence the economy.
I think we should start hiring philosophers to run the economy instead of economists now!
It's about power. It's always about power. American politicians think they are god and Keynesian economics gives them the illusion that they can manipulate the economy and force it to conform to the models political scientists produce. The problem with political science, and what makes it fall flat on its face, is that it deals with human beings instead of inanimate objects.
Try hosting a birthday party sometime. Invite 40 of your closest friends, and make a guarantee to the bar that 40 will show up (or you face a penalty). Odds are at least 10 will have other priorities and won't conform to your wishes. You'll end up paying the penalty. Political scientists hate freedom and free will because it fucks up their models. They can't force all their friends to show up so it makes it difficult for them to plan. It would be so much nicer if people were pieces on a chess board that could be moved around by some master will; so much more organized, efficient etc.
In the end this is why every piece of legislation written comes with penalties attached: jail time, fines, etc. They don't want people walking around in a chaotic mass doing whatever they want, they want order, because it's easier to model and plan. Nevermind that the whole exercise is futile in the first place. People are not chess pieces, they'll do whatever they want. If you try to control them, they'll find a way out of it or around it. It's human nature. You'd have more luck trying to push water uphill.